2023-11-08 15:39:00

FTT Price Analysis for November 8

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By Denys Serhiichuk

Most of the coins keep going down, according to the CoinMarketCap ranking.

FTT is the biggest loser today, falling by more than 30% over the past 24 hours.

On the daily chart, FTT has broken the last support level at $21.03 against the increased volume. Currently, there are no reversal signals, as the bar is about to close with a small or even no wick.

In this case, the more likely scenario is a further decline to the psychological zone around $10.

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On the weekly time frame, one should pay attention to the mirror level at $12.94. From the technical point of view, that might be the first stop at which bulls can locally seize the initiative. However, this can happen only if the approach to the level will be fast enough to create a false breakout.

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