Is the FTT token a buy after rising past a resistance zone?

• FTX crypto exchange is very stable following the market crash

• FTX’s native token FTT is bullish, adding over 16% in a week

• FTT breaks major resistance and buyers may be preparing to add positions

FTX crypto exchange token FTT / USD is bullish. Tokens have increased by 4.43% in the last 24 hours, with a total weekly increase of 16.41%. Investors should be aware that tokens have exploded significant resistance and are aiming for higher goals.

Fear has spread throughout the sector as most cryptocurrencies have recently stumbled. Several crypto exchanges, which starred in the potential liquidity crisis, have announced cost-cutting measures. Exchanges such as Crypto.com have announced a reduction in staff to maintain liquidity.

However, the liquidity of the FTX crypto exchange is not compromised. Its founder, Sam Bankman-Fried, even hinted at bailout a struggling crypto company. It reassured investors that FTX is stable. This may have ignited interest in the crypto token FTT.

When prices change bullish, FTT embarks on a bullish breakout

Source-TradingView

Technically, the FTT token broke through major resistance at $ 28. A breakout occurred after cryptocurrencies remained bullish last week. You need to wait for the candlesticks to close every day to see the bullish movements. If the candlestick falls below the $ 28 level, the price may fall. However, cryptocurrency sentiment is still strong and FTT may have already embarked on a bullish move.

Investors can buy FTT after confirming the bullish momentum. The next important level to note is $ 32.5.

Conclusion

FTT is bullish as cryptocurrency sentiment improves. Cryptography is backed by Sam Bankman-Fried’s FTX Exchange. FTX has become stronger in the wake of the cryptocurrency crash. If there is an obvious breakout above $ 28 resistance, the FTT will continue to rise.