FTX gained traction and surged nearly 3.3% intraday today. The bulls made a strong comeback in the recent sessions, which caused the FTX token to snap off the monthly losses. It may try to rise further.
Despite the optimistic projections in the short term, the long-term trend still awaits a breakout of an ascending triangle pattern developed over the daily chart. When writing, the FTT price lagged nearly 18% from the 200-day Exponential moving average.
However, the analysts have noted significant changes in the on-chain metrics, indicating the increasing presence of buyers in the market. Moreover, the price may take a bullish turn in the short term.
Improved Sentiments May Heighten the Demand
As per crypto analysts, the weighted sentiment curve has surpassed the zero line to shift its territory from negative to positive. The weighted sentiment curve represents the overall bias of traders and investors, whether bullish or bearish.
The shift in the curve from bearish to bu
We współpracy z: https://www.thecoinrepublic.com/2024/08/04/can-improved-sentiments-trigger-a-breakout-in-the-ftx-token-price/
