After closing the previous trading day at $1.24, FTX is up to $1.36, which makes for a move of 9.54%/$0.119 today.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Having crossed its lower Bollinger Band® at $1.39, FTX could be headed for a downward correction.
Examining the technical analysis landscape, FTX is likely to reverse course and start pointing downward in the short term.
Other markets are also showing gains as EOS added 3.91% to its value, now trading at $1.19. Litecoin is up 3.7%. Having closed the previous session at $12.28, Cosmos USD is up 4.68% today to currently trade at around $12.86.
FTX has fallen back around 97.61% from the significant high of $51.96 set 11 months ago. FTX Token has a market cap of 447.86 million with an average daily volume of 19.60 million.