Is FTT A Sell On Rise Opportunity?
The FTX Token price is extending the losses on Monday after failing to gain buyers trust above the 200-Day EMA yesterday. The price suffered rejection from the 200-Day EMA and dropped lower, suggesting the presence of bears near the 200-Day EMA. Moreover, the recent session saw the domination of buyers after the price took a rebound from the previous breakout zone of $1.6 level. The FTT crypto topped out near $5.66 in mid-December and dropped lower thus entering a correction phase. Since December, the buyers have been on the losing side as the price dropped steadily, forming lower highs. FTX token price has eroded nearly 60% from the December 2023 highs. Currently, the FTT price is experiencing a correction phase and has been a sell-on-rise opportunity for short-term traders and investors. The bears have established themselves near the $3 level which is the recent swing high. The crypto may experience selling pressure until the price is maintained below the recent supply. FTX Token Crypto Volume Drops As The Price Rise？ Moreover, the volume analysis shows that the FTT cryptocurrency recovered in the recent session after a sharp dip. However, the volume rise was steady and dropped as the FTX token price neared the previous supply