FTT broke out of the bullish flag on weekly timefram💰 TSX:FTT broke out of the bullish flag on weekly timeframe👀
Looking for the key zone to get smashed and further rally🚀
🎯1 Target - 4.2522$
🎯2 Target - 6.3364$
🎯3 Target - 8.3345$
FTTUSDT trade ideas
FTX Takes Legal Action Against Binance, CZ ZhaoFTX, the once-prominent cryptocurrency exchange, is embroiled in a high-stakes legal battle against Binance Holdings Ltd. and its former CEO, Changpeng Zhao. The lawsuit, filed by FTX, aims to claw back nearly $1.8 billion, accusing Binance and Zhao of participating in fraudulent transactions that involve the transfer of funds by Sam Bankman-Fried, FTX's co-founder, who is currently imprisoned.
This legal dispute centers around a controversial share repurchase deal that occurred in July 2021. Binance, Zhao, and other executives were allegedly involved in a transaction where they sold significant stakes in FTX's international and U.S. units. The funds for this repurchase deal were allegedly provided by Bankman-Fried using a combination of FTX's native token, TSX:FTT , and Binance’s own coins, BNB and BUSD, which were valued at $1.76 billion at the time.
The FTX estate claims that both FTX and its trading arm, Alameda Research, may have been insolvent since their inception and were definitely balance-sheet insolvent by early 2021. Consequently, the share repurchase deal is being challenged as fraudulent. In addition, FTX has accused Zhao of intentionally posting misleading tweets in the lead-up to FTX’s collapse, further accelerating the exchange’s downfall.
While Binance maintains that the claims are “meritless” and has vowed to vigorously defend itself, the legal action adds another layer of uncertainty to FTX’s already precarious situation, impacting not only the exchange but also its native token, $FTT. This article will explore both the technical and fundamental aspects of TSX:FTT amid these ongoing legal battles.
FTX’s Legal Woes and Impact on TSX:FTT
The legal battle between FTX and Binance has significant implications for the future of $FTT. The lawsuit itself stems from accusations of fraudulent transactions, which have already tainted FTX’s reputation. These claims—along with the ongoing bankruptcy proceedings—continue to weigh heavily on the exchange’s viability.
FTX’s insolvency issues, along with the accusations against Binance and Zhao, suggest that there is a long road ahead before any form of resolution can be achieved. As FTX fights to recover assets through lawsuits, the company’s ability to rebuild its reputation and infrastructure is increasingly called into question. With both institutional and retail investors likely to remain wary of TSX:FTT , this legal drama casts a long shadow over the token’s future.
Moreover, the involvement of Binance and Zhao, two major players in the crypto space, could fuel further controversy and market volatility. Given Binance’s prominence and Zhao’s influence, the outcome of this lawsuit could reverberate throughout the broader crypto ecosystem.
Technical Analysis
On the technical front, TSX:FTT has been trading within a rising trend, reflecting a modest 5.74% increase at the time of writing. The Relative Strength Index (RSI) stands at 61.80, suggesting that the token is in a potential continuation pattern. However, a closer look at the 2-hour chart reveals a bearish trend that could pose significant risks for TSX:FTT in the near term.
The token has been fluctuating around key support and resistance levels, and its future trajectory hinges on critical technical levels. Should TSX:FTT maintain support at $1.82, it may avoid a sharp sell-off. However, if it fails to hold this level, it could trigger a selling spree, pushing the price lower. On the other hand, a move to the pivot point at $2.36 could potentially lead to a brief bullish rally, although this could be short-lived given the legal uncertainty surrounding FTX.
What’s Next for TSX:FTT ?
The outlook for TSX:FTT remains uncertain, as the legal battle involving FTX and Binance continues to unfold. Fundamental factors, including FTX’s insolvency and the growing number of lawsuits, will likely weigh heavily on investor sentiment. At the same time, the technical setup for TSX:FTT remains fragile, with the potential for both upward and downward movement, depending on how the market reacts to ongoing developments.
Traders and investors will need to closely monitor both the legal proceedings and market sentiment. For now, the price action of TSX:FTT is bound by key support and resistance levels, with the potential for short-term fluctuations driven by market speculation and news surrounding the case.
Conclusion
The ongoing lawsuit, combined with FTX's bankruptcy and insolvency issues, highlights significant challenges for TSX:FTT in the coming months. While the technical indicators suggest the potential for short-term gains, these should be weighed against the broader fundamental uncertainty surrounding FTX and its legal battles. With the volatility likely to remain high, it is crucial for investors to stay informed about the developments in this case before making any major moves with $FTT.
FTT - SHIB/DOGE FRACTALI showed fractality, what happens to the price level in the future when accumulation and rounding occurs. The price pushes up and makes the strongest impulse upwards
FTT , FTX and SAM vs. CZPeter Brandt just post a head and shoulders pattern for FTT!! anyway...
in the hours before FTX secured rescue from Binance, it sought a bailout of more than $1 billion from Silicon Valley and Wall Street billionaires. By midday Tuesday the hole appeared far deeper closer to $5 billion to $6 billion. SBF wrote in a message to staff sent on Tuesday morning, “in the last 72 hours, we’ve had roughly $6b of net withdrawals from FTX”. Withdrawals at FTX are “effectively paused”, he wrote, adding that would be resolved in “the near future”
targets 5 , 4 , 3
FTX Executive Nishad Facing Sentenced Amid $8 Bln Fraud FalloutThe case against Nishad Singh, former FTX chief engineer, has garnered intense scrutiny in the crypto and financial world as he faces sentencing for his role in one of the largest financial frauds in U.S. history. Singh, who pleaded guilty to six counts of fraud and conspiracy, admitted to being a “straw donor” in Sam Bankman-Fried’s political donation scheme and played a role in orchestrating FTX’s misappropriation of customer funds. His sentencing, along with the recent technical analysis of FTX’s native token TSX:FTT , provides a complex perspective on the current state of FTX's assets and market position.
Cooperation and Accountability in the FTX Scandal
Singh’s involvement in FTX’s collapse goes beyond operational missteps; it includes his participation in diverting an estimated $8 billion from FTX’s customers under the direction of Sam Bankman-Fried. The case, which has revealed severe governance issues within FTX, led to significant financial losses for investors and shattered trust within the crypto community. While Singh’s cooperation, including asset recovery and key information sharing, is expected to contribute to a lighter sentence, Judge Lewis Kaplan has stressed the need for accountability, pointing to the severe impact on countless victims.
FTX’s bankruptcy CEO, John J. Ray III, recently issued a letter to Judge Kaplan highlighting Singh’s efforts to assist the debtors. According to Ray, Singh's knowledge of FTX’s operations is critical to ongoing investigations and asset recovery efforts. Singh has surrendered Bahamian property bought with company funds and responded to investigative inquiries, positioning him as a valuable asset for further legal proceedings and recovery efforts. In addition, Singh’s cooperation agreement might extend to testifying in bankruptcy court, potentially providing insights into the company’s operations that could aid in further recovery of assets.
This case highlights a broader trend in crypto governance as courts and regulatory bodies examine the internal controls and accountability measures within high-stakes crypto firms. Singh’s sentencing and the ongoing efforts by FTX’s leadership to restore investor trust demonstrate how corporate accountability and individual responsibility intersect in high-profile financial scandals.
Technical Outlook
FTX’s native token, TSX:FTT , has experienced substantial volatility amid the legal and financial turmoil surrounding the exchange. Currently trading within a declining trend channel, TSX:FTT is down by 2.18% with a moderate Relative Strength Index (RSI) of 44, suggesting consolidation within a narrow price range.
Price Movement: TSX:FTT has been trading between the $2 and $1.6 range. The support level at $1.48 is a key point to watch, as a break below this level could signal a deeper decline, while a bounce could provide a buy signal for traders. This range-bound movement, combined with low trading volumes, reflects caution among investors as they assess FTX's ability to recover from the ongoing legal challenges.
Market Sentiment and Potential Buy Signal: Given the current market sentiment around FTX, TSX:FTT ’s technical indicators highlight a potential accumulation phase, where investors may look for an entry point at the $1.48 support level. This level may attract buying interest as traders consider the possibility of a reversal if the company manages to stabilize and address its financial and legal issues.
Nishad Singh’s sentencing and cooperation could bring further transparency to FTX’s operations, potentially influencing investor sentiment around $FTT. A lighter sentence for Singh might indicate ongoing cooperation with authorities, providing some relief to traders who remain interested in FTX’s long-term recovery prospects.
Conclusion
With Nishad Singh’s sentencing set to unfold, his cooperation remains a significant factor in the broader investigation into FTX’s downfall. Singh’s actions and the judicial response will likely impact investor sentiment in the crypto market, particularly regarding FTX and its native token, $FTT. While TSX:FTT ’s current price pattern reflects caution, traders should keep an eye on support levels and overall market sentiment as FTX navigates its legal and financial recovery.
FTTusdt RiskFreeFrom the announcement point, about 4% spot profit 🚀🚀🚀
please be risk-free
good luck 🌹
FTTusdtHello friends, we are back full of strength, as always, capital management should be followed 🌹
Trade Signal Alert: FTTUSDT MovementDear Traders,
We have identified a potential trading opportunity in the FTTUSDT currency pair, using the EASY Quantum Ai strategy. Below are the details of our signal:
Direction: Sell
Enter Price: 1.4021
Take Profit: 1.37493333
Stop Loss: 1.43513333
Our analysis indicates that a bearish movement is likely due to several factors. Firstly, the current market trend analysis shows a downward movement in momentum, which the EASY Quantum Ai strategy has flagged as a potential sell opportunity. The absence of significant support levels in the short term further supports this bearish outlook.
Moreover, macroeconomic factors affecting the broader crypto market, combined with technical indicators showing increased sell pressure, suggest a continuation of the downward trend. The recent formation of resistance near the Enter Price also contributes to this prediction.
This trade recommendation is made using advanced algorithmic insights specifically tailored for the current market conditions observed by our EASY Quantum Ai toolset.
Please ensure proper risk management when entering this trade.
Trade wisely,
EASY Quantum Ai Team
ftx token ftx token analysis basically on elliott waves Principle and RTM priceaction system
ftt can be make a new high on 9$
wait and watch.
FTT USDT- CLICK HERE TO CHECK ITWe can expect a rejection from the above resistance levels, RSI is also in the overbought region.
FTX PriceFTX crypto daily chart setup represents a five-month range breakout and signals a further bullish rally next.
FTTUSDT WEEKLYFTT Falling Wedge Pattern
We can see on the weekly chart that FTT has formed a bullish falling wedge similar to what it did in October last year. A breakout and pullback could confirm and lead to an interesting bullish move. So I will keep an eye on it and build positions in this area.
Targets on the chart
I would expect it to reach at least the first targets by SEP/OCT
#DYOR
FTX Creditors to Receive $6 Billion in RepaymentsThe saga of the FTX collapse took a positive turn as creditors voted in favor of a reorganization plan that would see over $6 billion distributed to affected users. This long-awaited development marks a significant milestone for the beleaguered cryptocurrency exchange and its community, following the turmoil caused by its 2022 implosion.
FTX Creditors Approve Repayment Plan
FTX creditors have overwhelmingly supported the repayment plan, with a reported 94% of those in the "dot com customer entitlement claims" class voting in favor of the distribution. This indicates a unified front from users seeking to recover their losses. According to Kroll Restructuring Administration, nearly all creditor classes voted in favor of the reorganization, setting the stage for a smooth transition toward asset distribution.
With the creditors' approval, the plan is now awaiting a formal confirmation hearing scheduled for October 7. Analysts believe this hearing is just a formality, as the overwhelming support makes it highly likely the plan will move forward without major obstacles.
What Does This Mean for FTX Creditors?
Under the terms of the plan, a total of $6.83 billion will be allocated to affected customers and creditors. Those in the "US customer entitlement claims" category are expected to receive around $60.99 million, while creditors in the "dotcom convenience claims" class will see $223.59 million in claims. Many of these users could receive up to 118% of their original claims in cash.
However, it's important to note that these repayments are based on the value of their cryptocurrency holdings at the time of filing. Given the volatility of the crypto market, the actual value of the repayments may be lower than current market rates. Still, this plan represents a crucial step toward compensating victims of the FTX collapse.
Timeline for Distribution
The timeline for the distribution remains a hot topic among creditors. According to analyst Tom Dunleavy, payments could commence within 4 to 8 weeks, meaning users could see their funds before the end of 2024. Three "omnibus hearings" scheduled for October 22, November 20, and December 12 are key dates that will help finalize the process.
This development brings much-needed relief to the crypto community, which has been grappling with the fallout from the FTX scandal for nearly two years.
Fundamental Impacts on TSX:FTT
The FTX Token ( TSX:FTT ) has been riding the wave of this positive news, surging 11% as the distribution plan gained approval. The token, which had been stuck in a falling trend channel since the scandal broke, is now seeing renewed interest. The recent price increase has pushed TSX:FTT above key moving averages, signaling bullish momentum.
The Relative Strength Index (RSI) for TSX:FTT currently stands at 69.44, approaching overbought territory. This indicates strong buying pressure but also suggests that traders should be cautious of potential price corrections as it nears the overbought region.
Fundamentally, the successful execution of the repayment plan could restore some faith in the FTX brand, which has been tarnished by the scandal. However, the long-term outlook for TSX:FTT remains uncertain, especially with former FTX executives facing legal consequences. Caroline Ellison, former Alameda Research CEO, was sentenced to two years in prison, while former FTX CEO Sam Bankman-Fried is serving a 25-year sentence.
Technical Outlook for TSX:FTT
From a technical standpoint, TSX:FTT 's recent rally has lifted the token above key moving averages, indicating a potential trend reversal after months of declines. However, traders should keep an eye on the RSI, as the token's rapid ascent could lead to a short-term pullback.
If the bullish momentum continues, TSX:FTT could break out of its long-standing downtrend, with potential upside targets being the next resistance levels. For now, traders should remain cautious and monitor key technical indicators to gauge the strength of this recovery.
Conclusion
The approval of FTX's reorganization plan and the subsequent repayment of $6 billion to creditors marks a turning point for the company and its community. With TSX:FTT token gaining momentum, the road to recovery seems to be underway, although risks remain.
As the timeline for distribution becomes clearer and FTX continues to address legal and financial hurdles, the future of TSX:FTT will depend on the successful execution of these plans and the restoration of trust within the cryptocurrency community.
For now, all eyes are on the October 7 confirmation hearing and the upcoming repayment process, as users eagerly await the long-promised distributions.
FTT/USDT Secondary trend. Wedge. Phase 3. 05 2024Logarithm. Time frame 3 days
Secondary trend. A descending wedge is being formed. Its breakthrough - reversal and price growth. Maybe another decline, take it into account in risk management. Globally, and perhaps medium urgently now acceptable prices for a position set, at least the first part of it. Preferably, on the breakout of the reversal level. Stops are very short now.
Linear, without slippage of the wedge formation boundary.
FTT - soon 9$ I was damn right. everything is exactly as I said before, it's just a perfectly worked out setup, it's not for nothing that I changed the name of the profile to trading view and made a lot of ideas about this coin, those who believed and looked at my charts were convinced of it.
I will be glad if you will comment my ideas and put a like under them. I did my best.
If the idea gets 100 likes, I will make a guide on where to sell and how to understand the distribution on the ftt so that you don't miss the exit point or sell too late. Last time I predicted exactly how the asset would spread and then roll, closing a 4 buck position I was holding with 1.4$. Now my target is 9 bucks.
My analysis is based on numerology, cycles and the cosmos.)
Is FTT token about to print a 400% move?On the above 5 day chart price action has corrected over 70% throughout 2024. A number of reasons now exist to be bullish. They include:
1) Price action and RSI resistance breakouts.
2) Trend reversal. Notice the higher low?
3) The trend reversal follows strong bullish divergence, which has now confirmed.
4) Look left. Notice where the higher low is printing? On past resistance. Excellent.
5) Lastly the bull flag, it has broken out and confirmed support. The flagpole forecasts a 400% move.
Is it possible price action continues to correct? Sure.
Is it probable? No.
Ww
monthly time frame In the monthly time frame, good doji candles are a sign of a good price rise
#fttusdt
FTTUSDTWe can attempt to buy FTTUSDT from specified level as it make HL , also there is no bearish divergence occur indicate that it moves upward.
SL , TP mention in chart.
FTT - start of strong growth +-9 september start of strong growth +-9 september. Based on a system based on trend lines touching at one point.
FTT - classic patternAn inverted chart showing a classic pattern, you can familiarize yourself with it in my other ideas. I think that the first price stop will be in the area of 3.2 dollars, and then there may be a pullback to the area of 2 dollars.
FTT + 10%?For a long period, the coin had no volume, but now we see activity and large impulses. I want to buy during the local correction.
