The post FTT Price Rises as FTX Sets Repayment Date in February appeared on BitcoinEthereumNews.com.

FTX Token (FTT) price is up following news that the exchange will begin payments to Bahamas creditors on February 18. Despite this positive development, FTT is still fighting to maintain levels above $2 as technical indicators show mixed signals. While RSI has recovered from oversold conditions and bullish momentum is building, ADX remains weak, suggesting that trend strength is not yet fully established. If FTT can break key resistance levels, it could push toward $3. However, a failure to hold current support may lead to a deeper pullback. FTT Downtrend Is Losing Its Steam, But the Uptrend Is Still Consolidating FTT DMI chart shows that its ADX has dropped to 23.4, down from 41 just four days ago. This decline suggests that the strength of the previous downtrend is weakening. ADX measures trend intensity but does not indicate direction. That means that while FTT is attempting to form an uptrend, the lower ADX suggests the momentum behind this move is not yet strong. If ADX falls further below 20, it could indicate consolidation, while a rebound above 25 would signal a strengthening trend. FTT DMI. Source: TradingView. ADX is a key part of the Directional Movement Index (DMI) that tracks trend strength. Values above 25 indicate a strong trend, and readings below 20 suggest weak or indecisive price action. Meanwhile, FTX Token +DI has surged to 27.7 from 14.1 in just one day, signaling increasing bullish pressure, while -DI has dropped from 26.5 to 15.3, showing that bearish momentum is fading. This crossover, where +DI moves above -DI, supports the case for an uptrend. If ADX starts rising again, FTT could see a stronger bullish continuation, but if ADX remains weak, the price may struggle to gain momentum. FTT RSI Is Rising Fast FTT’s Relative Strength Index (RSI) is currently…

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Filed under: News - @ February 6, 2025 2:23 am