FTX Token receives a weak long-term technical score of 22 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
FTT currently holds a superior long-term technical analysis score than 22% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.
Trading Analysis
FTX Token’s price is -$2.4600000 (-5.61%) below its 100-day moving average price of $43.860000000 as its price at the moment sits at $41.400000000. Additionally, FTT is $19.4700000 (138.60%) higher than its 52-week low price of $21.930000000 while -$43.62000000 (36.93%) under its 52-week high of $85.020000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives FTT an average long-term technical score of 22. Long-term trading movement of FTX Token suggest that investors are bearish on the token at the moment.
FTX Token has a market capitalization of $5,671,415,620.75 and a relatively high average daily volume with $960,510,862.04 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, FTT’s volume is below its seven day average with 72,214,967.94 exchanged.
This token’s subclass Derivatives: Derivatives are contracts or financial tools that derive value from an underlying asset. Derivatives can be used to hedge against volatility and price swings or can be a tool for investors to speculate on the future price of the underlying asset. The most popular derivatives in the crypto market are futures, options, and perpetual contracts.
Summary
Trading patterns over the last year for FTX Token leads to the token’s a weak long-term technical score of 22 as its consistency, volatility, and relation to long-term averages has given investors reason to be bearish on the token.
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