Following the latest increase, which came after locating support on Wednesday, FTT appears back in an upward range as it aims to retake the weekly high. A flip through it could set the price for a bigger rally.

Late last month, FTT suddenly initiated a surge and exploded to a peak of $3.4 two weeks ago. This price marks the crypto’s highest trading level in eleven months but unfortunately lost steam due to a sharp rejection.

In the mid-week, it located support above $1.7 and quickly recovered to $2.33 – the current weekly high. This high was rejected and the price fell to $1.9. It resurged yesterday to where it is changing hands at $2.17.

A surge through the weekly high could bring trading back above the $3 level in no time. Even if the price surges through this high, FTT must reclaim the last December high before confirming a mid-term rally.

For now, the bulls are in charge in the short term. Failure to push above the mentioned high may result in a small drawdown to retest the $1.5 level before picking up again. The bears are currently off the market. They must pull the price below July’s low to regain control.

Pushing higher in the coming days, the $3.43 resistance level would be the next target to keep in mind. Above this level lies the $4.5 resistance, with a potential break up to the $6 resistance – December 2023 high.

While the market is currently supported by the $1.77 level, $1.49 is the close level to watch for a pullback. The $1.22 and $1 supports are the next levels to consider if the price breaks down.

Key Resistance Levels: $2.33, $3.43, $4.5

Key Support Levels: $1.49, $1.22, $1

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: burdnik/123RF // Image Effects by Colorcinch

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