FTX Price Analysis: FTT Price To Hit $5 With Creditor Repayment Plan?

Story Highlights

• FTX reveals its $8 billion repayment plan, to begin in March 2025. 
• The FTT price soars 30% in 24 hours with a 284% jump in trading volume.
• Technical sentiments record increased positive action, hinting at retesting a higher price target.

With the announcement of the FTX’s repayment plan, this failed crypto exchange’s native token “FTT” price has experienced a strong bullish recovery, with it on the verge of achieving a new 52-week high in the upcoming time.

Amid current market sentiments, is FTX a good buy for this crypto bull run? In this article, CoinPedia’s expert panel has uncovered the possible short-term price analysis of the FTX token.

FTT Price Records Bullish Reversal!

With a constant rise in the cryptocurrency market, the FTX coin is on the path to achieving a new 52-week high. This indicates a strong comeback for the altcoin this year. Notably, it has surged ~125% from its July low.

The Simple Moving Average (SMA) constantly acts as a support to the FTT price chart in the daily time frame. This suggests a bullish outlook for the altcoin in the upcoming time.

Further, the Relative Strength Index (RSI) is headed toward its overbought range, with its average trendline recording a positive action. This highlights that the FTX token may continue gaining value this week.

Will FTT Price Hit $5 This Year?

If the FTX price breaches its resistance level of $2.65, the bulls will maintain their bullish sentiment and prepare to test its upper resistance level of $3.25. Maintaining the price at that level will set the stage for it to head toward its upper price target of $4.

On the contrary, if a trend reversal occurs, the FTT coin price will retest its support trendline of $2. Furthermore, if the bulls fail to regain momentum at that point, this could result in this altcoin retesting its lower support level of $1.60.

Curious about the long-term projections of this altcoin? Read CoinPedia’s FTX Price Prediction and also subscribe to us to get your hands on the latest crypto news first!

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