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FTT is stable at a support level of $ 24.
FTX exchange to buy BlockFi for $ 240 million.
The crypto sector is facing bearish pressure among macroeconomic factors.
As the crypto sector faces bearish pressure, the FTT and other tokens inherent in the crypto exchange remain resilient. The FTT has lost only 9.6% in the past month since it traded at $ 27, according to data from. CoinMarketCap..
By comparison, Bitcoin plunged 36% in the bear market. This is due to macroeconomic factors. Higher interest rates from the US Federal Reserve and political turmoil in Europe have shifted the focus to low-risk assets.
FTT tokens are currently trading at $ 24.4 after rising 0.65% in the past day, but remained down 8.98% last week. Overall, tokens are trading 69% below the record high of $ 76.4.
FTX has signed a contract with the option Buy confused crypto lender BlockFi for $ 240 million In a move to profit from the bearish crypto space. The transaction also includes expanding the $ 400 million revolving credit line to lenders. The announcement has not yet affected the value of FTT tokens, but investors expect to benefit from the long-term benefits of the expansion.
FTX is also keen on geographical expansion. The exchange was licensed in the first quarter to operate a virtual asset exchange and clearinghouse services in the UAE. As an aside, the company’s European subsidiary has been licensed to provide services to institutional investors.
Source: Tradingview
From the daily technical outlook above, the FTT has been integrated at a support level of $ 24 after falling below $ 35. Tokens have been steadily declining since reaching a high of $ 51 at the end of March. The RSI has confirmed at 42 that the tokens have not entered the oversold zone and may see further downside momentum. If the token is at a major support level, lowering it will open up further weaknesses and the FTT may be traded lower.
FTT remains largely bearish before the trend reverses, as macroeconomic factors continue to curb various crypto assets. Further downward pressure could be exerted when tokens fall below the current support level of $ 24. Buy entry is recommended only if the price is above the current level due to the confirmation of a bullish price signal.
FTT is stable at a support level of $ 24.
FTX exchange to buy BlockFi for $ 240 million.
The crypto sector is facing bearish pressure among macroeconomic factors.
As the crypto sector faces bearish pressure, the FTT and other tokens inherent in the crypto exchange remain resilient. The FTT has lost only 9.6% in the past month since it traded at $ 27, according to data from. CoinMarketCap..
By comparison, Bitcoin plunged 36% in the bear market. This is due to macroeconomic factors. Higher interest rates from the US Federal Reserve and political turmoil in Europe have shifted the focus to low-risk assets.
FTT tokens are currently trading at $ 24.4 after rising 0.65% in the past day, but remained down 8.98% last week. Overall, tokens are trading 69% below the record high of $ 76.4.
FTX has signed a contract with the option Buy confused crypto lender BlockFi for $ 240 million In a move to profit from the bearish crypto space. The transaction also includes expanding the $ 400 million revolving credit line to lenders. The announcement has not yet affected the value of FTT tokens, but investors expect to benefit from the long-term benefits of the expansion.
FTX is also keen on geographical expansion. The exchange was licensed in the first quarter to operate a virtual asset exchange and clearinghouse services in the UAE. As an aside, the company’s European subsidiary has been licensed to provide services to institutional investors.
Source: Tradingview
From the daily technical outlook above, the FTT has been integrated at a support level of $ 24 after falling below $ 35. Tokens have been steadily declining since reaching a high of $ 51 at the end of March. The RSI has confirmed at 42 that the tokens have not entered the oversold zone and may see further downside momentum. If the token is at a major support level, lowering it will open up further weaknesses and the FTT may be traded lower.
FTT remains largely bearish before the trend reverses, as macroeconomic factors continue to curb various crypto assets. Further downward pressure could be exerted when tokens fall below the current support level of $ 24. Buy entry is recommended only if the price is above the current level due to the confirmation of a bullish price signal.
