Close FTT: the only one that resists Bitcoin?

The last few days have been very tough for the market. We have seen -30%, -50% and even Earth (MOON) which has it lost everything of its value. Even Bitcoin has lost, since May 5 around 29% at the close. But some have withstood the fall and even better than Bitcoin. This is the case of FTT, the token of the FTX platform that recorded a maximum drop of 28.24%. Less than BTC. Can you still show strength with tonight’s closing? We’ll see right away.

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FTT records a lower high in its last close

After a large outflow of cash that caused FTT to the 24 dollars, the price of the asset recorded a minimum at 29.67 dollars. Thus, for the past five days, it has started an upward trend. However, this trend seems to be fading. Indeed FTT recorded a lower high than the previous one yesterday. Is this a sign of weakness? Or are we showing signs of starting a sideways trend?

TFT price against the dollar (1D)

Yesterday’s candle closed with a strong downside for sellers albeit bearish. Therefore, it could act as a bullish retreat. But today’s candle seems to show great bullish weakness if the close does. Closing will be very important and we will see in H4.

Weakness of purchase in the last closings of FTT

As i said FTT it withstood the fall of early May very well. It recorded a lower closing low than Bitcoin. This is a very good point for the FTX platform testimonial. It seems to show some resistance to market crashes, unlike other Altcoins. However, the closure of the last candle and the one that seems to be now visible do not bode well.

FTT price against the dollar (H4)

Although it is currently on an upward trend, FTT recorded a close right now showing a candle in strong buying weakness. It also carried a lower first maximum than the previous one in H4. The current closure seems to carry a second candle of the same type. We are currently on a bullish retreat that could be interesting. In addition, a lower trough should be made to validate a downward trend. But today’s candle, combined with yesterday’s, doesn’t inspire me anything good.

FTT to test your last closing minimum?

A zoom in on the time scale allows us to see that we closed the interesting Pullback. We are currently going below. There are 17 minutes left to write this paragraph. A bullish setback here would be interesting. But the bottom lower than the previous one does not inspire me a bullish scenario.

FTT price against the dollar (H1)

I think FTT will re-test the last minimum recorded at 31.14 dollars. And it will have to be kept absolutely closed. Otherwise, FTT would go directly to test its H1 support a 30 dollars. If that doesn’t happen, it’s still a way to get more money out of $ 28.89. An FTT fence on top 32.44 dollars would completely invalidate the bearish scenario.

Despite the heavy fall in recent days, it seems that the FTT is holding its own. However, the latest asset closures in H4 and H1 show no sign of continuing the uptrend. So I’m waiting for try again of the last trough. Hoping this holds the fence. Otherwise, time support comes to us. The fact is that the FTX platform has quickly consolidated and is now very well launched in the ecosystem, FTX Venture it interests even a neobank. The FTT token, which is resilient even to this type of fall, has a bright future for me.

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