FTX TOKEN - FTT/USD - Daily - Technical analysis published on 01/11/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 1.54 USD
My targets
1.18 USD (-13.87%)
1.00 USD (-27.12%)
My analysis
In a bearish trend, the price of FTX TOKEN - FTT/USD tries to inflate a little with a slight short-term rebound. At this stage, no trend reversal is in sight. Globally, sellers have the upper hand. Traders may allow themselves to trade short positions (for sale) as long as the price remains below the resistance located at 1.54 USD. A bearish break in the support located at 1.18 USD would revive the bearish momentum and fuel the basic trend. Then the price could move towards 1.00 USD. PS: if there is a bullish break in the resistance located at 1.54 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
0
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The FTX TOKEN - FTT/USD price is 1.37 USD. The price has increased by +10.48% since the last closing and was between 1.17 USD and 1.43 USD. This implies that the price is at +17.09% from its lowest and at -4.20% from its highest.1.17
1.43
1.37
A study of price movements over other periods shows the following variations:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of FTX TOKEN - FTT/USD indicates that the overall trend is bearish. 67.86% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently being given by short-term moving averages indicate that this bearish trend may be slowing down. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 1.00 | 1.37 | 3.84 | 22.81 | 26.02 |
| Change (%) | -27.12% | - | +180.00% | +1,564.86% | +1,799.42% |
| Change | -0.37 | - | +2.47 | +21.44 | +24.65 |
| Level | Intermediate | - | Minor | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.84 | 1.02 | 1.13 | 1.31 | 1.42 | 1.60 | 1.71 |
| Camarilla | 1.16 | 1.19 | 1.21 | 1.24 | 1.27 | 1.29 | 1.32 |
| Woodie | 0.81 | 1.00 | 1.10 | 1.29 | 1.39 | 1.58 | 1.68 |
| Fibonacci | 1.02 | 1.13 | 1.20 | 1.31 | 1.42 | 1.49 | 1.60 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.55 | 0.69 | 0.79 | 0.93 | 1.03 | 1.17 | 1.27 |
| Camarilla | 0.83 | 0.86 | 0.88 | 0.90 | 0.92 | 0.94 | 0.97 |
| Woodie | 0.54 | 0.68 | 0.78 | 0.92 | 1.02 | 1.16 | 1.26 |
| Fibonacci | 0.69 | 0.78 | 0.84 | 0.93 | 1.02 | 1.08 | 1.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.60 | 0.11 | 0.47 | 1.18 | 1.54 | 2.25 | 2.61 |
| Camarilla | 0.54 | 0.63 | 0.73 | 0.83 | 0.93 | 1.03 | 1.12 |
| Woodie | -0.78 | 0.02 | 0.30 | 1.09 | 1.37 | 2.16 | 2.44 |
| Fibonacci | 0.11 | 0.52 | 0.77 | 1.18 | 1.59 | 1.84 | 2.25 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 48.27 | |
| MACD (12,26,9): | -0.1600 | |
| Directional Movement: | 15.33 | |
| AROON (14): | 71.42 | |
| DEMA (21): | 0.77 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.89 | |
| Elder Ray (13): | 0.19 | |
| Super Trend (3,10): | 0.83 | |
| Zig ZAG (10): | 1.20 | |
| VORTEX (21): | 1.0900 | |
| Stochastique (14,3,5): | 63.06 | |
| TEMA (21): | 1.43 | |
| Williams %R (14): | -32.43 | |
| Chande Momentum Oscillator (20): | 0.46 | |
| Repulse (5,40,3): | 10.0200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -2.2600 | |
| Courbe Coppock: | 43.17 |
| MA7: | 1.07 | |
| MA20: | 0.96 | |
| MA50: | 1.16 | |
| MA100: | 9.28 | |
| MAexp7: | 1.13 | |
| MAexp20: | 1.07 | |
| MAexp50: | 2.86 | |
| MAexp100: | 7.80 | |
| Price / MA7: | +28.04% | |
| Price / MA20: | +42.71% | |
| Price / MA50: | +18.10% | |
| Price / MA100: | -85.24% | |
| Price / MAexp7: | +21.24% | |
| Price / MAexp20: | +28.04% | |
| Price / MAexp50: | -52.10% | |
| Price / MAexp100: | -82.44% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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