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FTX token forecast – price explosion is imminent! Get in now?

 


The FTX token price has been forming resistance around $65 for the past few months. However, the course has also formed a trend line, which serves as support, by bouncing off the resistance again and again. This support leads to the $65 resistance. Thus, the price has formed an ascending triangle, which in most cases serves as a trend continuation formation. Based on this, we expect a bullish breakout from the triangle in the future. This breakout could happen as early as the next few, as the triangle is in its final third in two months. However, one should always be careful. Just because the triangle breaks out bullish in most cases doesn't mean it has to break out bullish! The triangle could also break out in a bearish fashion, although this is rather rare.

If the FTX token price breaks out in a bullish way, which we expect it will because the probability is around 70%, the price could target the triangle formation target. This target is around $180. Since we find this goal to be a bit high, let's look at the market capitalization of the FTX token.


Currently, the FTX token course has a market cap of around 6.3 billion, with a price of around $46. If we divide the $180 by the $46, we get the value ~3.91. If we multiply the 6.3 billion by the 3.91, we get a future market cap of approximately 24.633 billion. With this market capitalization, the FTX token would slip into the top 10 of all cryptocurrencies. Since Binance as an exchange is, in our eyes, fading more and more and FTX is catching up, it could be that funds from Binance Coin flow into the FTX token. So around $150 per FTX token is definitely possible. However, we would start with the $100 first before talking about higher rates.

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