FTX Token (FTT) has experienced a 14% price increase in the past 24 hours, making it the top gainer in the market. However, this surge is driven by speculative trading rather than a genuine increase in demand. Technical analysis suggests that FTT may shed some of its gains in the near term, as the negative Chaikin Money Flow indicates a potential pullback. The Parabolic Stop and Reverse (SAR) indicator also confirms a bearish outlook. FTT could drop to a support level of $1.25, and further decline to $1 if that support fails. However, if new demand increases, FTT's price could break through resistance at $2.93 and climb to $3.53.



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