CandleFocus FTX Token Set to Skyrocket 160% Ahead of Key Hearing
2024-10-02
Author: Content Editor
FTX Token (FTT) has gained attention due to speculation about FTX's plans for creditor and customer repayments. FTT's technical setup suggests a potential 160% increase, reaching a 10-month high. The token's price has surged 64% in the past week ahead of the October 7 hearing on the repayment plan. If the court approves the plan, smaller claimants could receive payments by late 2024, while larger claimants may have to wait until mid-2025. Data shows that long-held dormant tokens have started moving, indicating anticipation for the hearing. Positive readings from FTT's price daily active address (DAA) divergence and rising on-balance volume suggest increased demand and accumulation. If the repayment plan is approved, FTT could break through resistance levels and potentially increase by 160%. However, denial of the plan could lead to a price drop to $1.
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