FTT Volatility Sparks Interest – Should You Buy

• The FTX token has been exhibiting signs of strength on the daily time frame.
• The negative values of the CMF indicate that an upward trend may not be long-lasting.

The FTX token [FTT] has experienced noticeable volatility in recent weeks. The US government approved reorganization plans for the defunct crypto exchange FTX in October.

The proposal aims to refund approximately 98% of former FTX users an impressive 119% of their claimed value.

Recently, speculation arose regarding a potential presidential pardon for the exchange’s disgraced CEO Bankman-Fried by President Joe Biden.

Bankruptcy proceedings are scheduled for January 2025, heightening expectations for further fluctuations in the FTT token.

This speculation was fueled by a post from user Wall Street Mav on X. Polymarket Odds reported a 9% rise in odds of a pardon following Elon Musk’s remarks.

This also explains the brief bullish momentum observed with respect to the FTX token.

FTT tests resistance at $3.5 again

The exchange token established a bottom near $1 during June and July and began its gradual ascent in late September.

This upward trend continued into November when a bullish market structure was identified on the daily chart as of November 21.

This bullish structure remains intact on the daily chart since then. Over this past month, RSI readings have stayed above neutral at level 50, supporting claims of bullish momentum behind this token.

However, its CMF consistently remained below -0.05 throughout much of last year indicating that capital flows were not channeling towards market growth; thus casting doubt over recent rallies.
  

Are you seeing positive returns? Test out our FTX token profit calculator

An alert has been issued regarding developments tied to CoinMarketCap concerning an update on
FTX tokens.

Ongoing bankruptcy proceedings could leave holders at risk; consequently properties linked with tokens like those belonging under
 
FTG can now become obsolete as they consider liquidation alternatives during creditor payments following aforementioned circumstances such as financial obligations arising from bankruptcy situations yet ongoing processes aim specifically targeting possible outcomes would suggest caution measures taken should precede next steps cautiously taken instead! ” Disclaimer : Any information provided herein does not convey financial advisory forms rather it only reflects individual opinion expressed from authored perspective without obligation due diligence applied
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