FTX Token falls to $0.929, following mixed behavior today as it ranges between $0.915 and $0.987.
Chart analysis indicates FTX Token could begin to recover as it approaches significant support, now 6 cents away from $0.87. Dipping below could be an indication that further losses are ahead. Concerning technical analysis and more specifically, trend indicators, 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. Momentum evaluation shows that the Relative Strength Index indicates FTX is in strong oversold condition. Asset volatility analysis shows that FTX Token's lower Bollinger Band® is at $0.933, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
With market volatility ebbing, the current technical outlook indicates FTX Token will remain range-bound for the immediate future.
Other assets are showing positive performances as Binance Coin is up 4.37%. EOS improves 4.71% to trade around $0.889. Ethereum goes up 4.19% to trade around $1,217.
FTX is now trading 96% below its 3-month high of $51.96. FTX Token is currently trading with a market cap of 305.58 million with an average daily volume of 13.87 million.