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The FTX token price dipped 4% in the last 24 hours to trade at $1.65 as of 02:33 a.m. EST on trading volume that skyrocketed 214% to $96 million.
The drop in the FTT price came after a brief surge on Monday, which was fueled by Sam Bankman-Fried tweeting for the first time in two years.
1) I have a lot of sympathy for gov’t employees: I, too, have not checked my email for the past few (hundred) days
And I can confirm that being unemployed is a lot less relaxing than it looks
— SBF (@SBF_FTX) February 25, 2025
FTT is a token associated with FTX, the now-defunct crypto exchange Bankman-Fried founded.
FTX Token Price Bearish Reversal Pattern Signals Further Downside
The FTT price chart presents a significant bearish pattern—the Head and Shoulders formation. This pattern, marked by a left shoulder, head, and right shoulder, is widely recognized as a trend reversal signal, suggesting that the FTX token price could be heading lower after a prior uptrend.
The neckline of the pattern, drawn around the $1.65–$1.70 zone, has now been tested, and price action is attempting to break below this key support, according to GeckoTerminal data.
A confirmed breakdown from this level could lead to increased selling pressure, pushing the price further downward.
The 50-day Simple Moving Average (SMA) at $2.14 is above the 200-day SMA at $2.09, signaling a short-term uptrend that might soon reverse.
However, the FTX token rice has fallen below both SMAs, reinforcing bearish sentiment and the possibility of further downside.
FTT Price Prediction
If FTT decisively breaks below the $1.65 neckline, the measured move from the Head and Shoulders pattern suggests a potential drop towards the $1.20–$1.30 region, representing a significant decline from current levels.
On the flip side, if the price of the FTX token rebounds from this support zone and reclaims $2.00, a short-term recovery towards $2.50 or higher may be possible.
However, the overall trend remains bearish unless FTT invalidates the Head and Shoulders structure by reclaiming higher levels with strong volume.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) for potential Bitcoin airdrops. 99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL could soar 10X after launch.
BTC Bull Token Presale Closing On $3 Million
In one of the strongest presale showings of the year, new meme coin BTC Bull Token just rocketed past $2.7 million raised in its ongoing token presale.
Investors are piling into BTCBULL with the goal of earning real Bitcoin rewards. The project has promised to airdrop BTC to BTCBULL token holders when the original cryptocurrency reaches certain price milestones.
As Bitcoin marches toward the $1 million target, BTC BULL Token holders will get rewarded along the way. Investors who hold BTCBULL in Best Wallet will receive free BTC airdrops when the Bitcoin price hits $150k and $200k for the first time.
There will also be ”a huge BTCBULL airdrop” for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
In addition to BTC airdrops, the team will also carry out token burns, permanently removing a portion of the total supply. The aim is to follow in Bitcoin’s footsteps and increase scarcity and value.
Bitcoin Bull token holders can also earn passively by staking their tokens for a 154% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.00238 each using BNB, ETH, USDT, or a bank card.
Buy BTCBULL before a price hike in less than 24 hours to secure the best deal.
Check out BTC Bull Token here.
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