FTX token price forecast – 40% pump in no time?

The FTX Token is the exchange token from the ftx.com exchange . The price had an all-time high around $85 and has since corrected. The price is currently at $44 (as of 01/14/2021). But could prices rise sharply soon? We'll enlighten you!

The FTX founder recently wrote a bullish tweet. In it he wrote: “First we raise a $2 billion venture fund: FTX Ventures! As a founder, it's important to support other founders to create great companies. Hopefully we can do that a lot more." The result of this tweet was a price increase of over 7%, which is why we would now like to analyze the FTX token price for you.

The FTX token price is currently at the $43.78 resistance line. This has already been tested twice in the last few days. Resistances usually break after the third attempt, which is why you can now assume that the FTX token price will break the resistance. If we also look at the bullish news from the FTX founder, then we see it as very likely that the resistance will be broken. A daily close, on a business day, would be needed for resistance to be considered confirmed broken. A retest of former resistance would result in confirmation that resistance is now acting as support.

If the FTX token price breaks the resistance, which we expect it will, the price could see a retest of the former resistance shortly thereafter. This would confirm resistance as support. After that it could go further up. The goal would be the next resistance. This is around $53. A minor sell-off down to the $44 support could follow. Option B would be for the FTX token price to break the $53 resistance and rally to $61.50.

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