Bitcoin Key Levels for the Day

BTC/USD has dropped 2.65% in the last 24 hours, currently trading at $95,844. Bitcoin (BTC) lost the $98,331 support, experiencing a correction. To resume its uptrend, BTC must reclaim $98,331 as resistance. Key support levels are $94,886 and $92,053.

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Ethereum (ETH): ETH/USDT has declined 4.40% in the last 24 hours, currently trading at $2,602. Resistance levels are $2,724, followed by $2,877. Support levels are $2,532 and $2,366.

FTX Token (FTT): FTT/USDT has gained 0.74% in the last 24 hours, currently trading at $2.0147. Resistance levels are $2.0205, followed by $2.2338. Support zones are $1.8059, with a deeper decline leading to $1.6427.

Sonic (S): S/USDT has increased 0.39% in the last 24 hours, currently trading at $0.4665. Resistance levels are $0.4807, followed by $0.5140. Support levels are $0.4119, with a deeper decline leading to $0.3670.

MANTRA (OM): OM/USDT has dropped 1.03% in the last 24 hours, currently trading at $5.8732. Resistance levels are $6.1344, followed by $6.4807. Support levels are $5.6678, with a deeper decline leading to $5.3793.

Trending Coins

The most trending coins in the last 24 hours are Solayer (LAYER), B3 (B3), and Koma Inu (KOMA). The top gainers are B3 (B3), Ket (KET), and AB DAO (AB), while the biggest losers are Fartcoin (FARTCOIN), aixbt by Virtuals (AIXBT), and Toshi (TOSHI).

Bitcoin Liquidation Map

In Bitcoin’s 12-hour liquidation heatmap, the largest liquidity cluster above is at $96,570 with $39.83 million in liquidations. The most significant liquidity level below is at $94,388, with $46.78 million in liquidations.

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The post The Latest on Bitcoin and Cryptocurrencies: 12 February appeared first on Coin Engineer.

Bitcoin Intraday Key Levels

The BTC/USDT pair has lost 0.30% in value over the last 24 hours and is currently trading at $94,962. Bitcoin (BTC) is hovering around the previously mentioned $94,700 area, and if it rises again, the resistance level will be $97,362. The support levels are $94,700 and $93,138, respectively.

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Ethereum (ETH): The ETH/USDT pair has lost 1.56% in value in the last 24 hours and is currently trading at $3,334. The resistance levels for ETH are first $3,440, and later $3,535. The support levels are $3,290 and $3,217.

FTX Token (FTT): The FTT/USDT pair has gained 13.81% in value in the last 24 hours and is currently trading at $3.24. The resistance levels for FTT are $3.57, followed by $3.81. The support levels are $3.16 and, in case of a deeper decline, $2.96.

Chainlink (LINK): The LINK/USDT pair has gained 2.15% in value in the last 24 hours and is currently trading at $23.08. The resistance levels for LINK are first $23.36, and later $24.53. The support levels are $21.55 and, if the decline deepens, $20.01.

Beam (BEAMX): The BEAMX/USDT pair has lost 0.24% in value in the last 24 hours and is currently trading at $0.0276. The resistance levels for BEAMX are $0.0286 and later $0.0314. The support levels are $0.0263 and, if the decline continues, $0.0218.

Trending Coins

The most trending coins in the last 24 hours in the crypto market are Hyperliquid (HYPE), LIMITUS (LMT), and Pudgy Penguins (PENGU). The biggest gainers are Frax Share (FXS), Moca Coin (MOCA), and Zcash (ZEC). On the list of the biggest losers, you can find Hyperliquid (HYPE), Zerebro (ZEREBRO), and Fartcoin (FARTCOIN).

Bitcoin Liquidation Map

Looking at the 12-hour liquidation map for Bitcoin, the prominent liquidation on the upper side is at $97,235 with $33 million. On the lower side, there is a noticeable liquidation at $93,573 with $46.8 million.

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The post The Latest on Bitcoin and Cryptocurrencies: December 23 appeared first on Coin Engineer.

Technical Indicators: Strong Buy Sentiment

Technical data of FTX Token mostly point to a positive future. Important conclusions from the technical study consist of:

• RSI (14): At 63.105, the Relative Strength Index signals a buy, indicating that FTT has room for further upward movement without being overbought.
• Stochastic Oscillator (9,6): The Stochastic Oscillator signals a sell at 21.062, reflecting potential short-term weakness. However, this could be a temporary pullback in the broader bullish trend.
• Stochastic RSI (14): This oscillator shows an overbought condition with a value of 100, suggesting caution in the short term as the market may be slightly overheated.
• MACD (12,26): The Moving Average Convergence Divergence (MACD) indicator signals a sell, reflecting potential bearish momentum in the short term.
• ADX (14): At 28.683, the Average Directional Index signals a buy, suggesting that the current trend is gaining strength.
• ROC: The Rate of Change (ROC) stands at 55.979, signaling a buy, which indicates that FTT is experiencing strong price momentum.

Though there are occasional short-term sell indications, most technical indicators point to FTT in a strong purchase zone, therefore showing a positive attitude for the coin.

Moving Averages: Buy Sentiment Dominates

With 9 purchase indications and just 3 sell signals, the moving averages for FTX Token are clearly positive:

• Short-Term Moving Averages (MA5, MA10, MA20): All short-term moving averages signal a buy, indicating positive momentum in the near term.
• Medium-Term Moving Averages (MA50, MA100): Medium-term moving averages also signal a buy, further reinforcing the token’s upward trend.
• Long-Term Moving Averages (MA200): Long-term moving averages show sell signals, which suggests that FTT may still be recovering from a previous downtrend. However, the strength in the short and medium term indicates a strong bullish potential moving forward.

Financial Performance: High Market Activity

Driven by a mix of higher trading volume and market capitalization, FTT has seen a notable spike in market activity:

• Market Cap: FTX Token’s market cap has risen by 48.22%, reaching $701.57 million. This indicates growing confidence in the token, particularly as it climbs up the cryptocurrency rankings.
• Trading Volume: The 24-hour trading volume surged by 3,662.35% to $363.37 million, reflecting increased liquidity and investor interest in FTT. The high volume-to-market cap ratio of 50.83% further underscores the strong trading activity.
• Supply: With a circulating supply of 328,895,104 FTT, the token remains fully issued, providing stability in its supply dynamics.

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The post FTX Token (FTT) Analysis: Buy Signals Lead the Way appeared first on Coin Engineer.

On September 29, FTT saw a sharp increase of over 70%, reaching a multimonth high of $2.70, its highest level since March 2024, according to CoinGecko. The token, which had been trading around $1.40 for the past month, saw a dramatic rise in daily returns before dropping back to approximately $2.10 by September 30, still marking a 30% gain over the previous 24 hours.

Speculation Fuels FTT’s Surge The rally in FTT’s price followed widespread social media rumors suggesting that the FTX bankruptcy estate might begin distributing funds to creditors and customers on September 30.

However, official documents from the Chapter 11 bankruptcy filing reveal that the distribution plan has not yet been approved. A court hearing is scheduled for October 7 to determine whether the plan will move forward.

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If approved, the bankruptcy trustee is expected to start paying creditors with claims under $50,000 by the end of 2024, while those with larger claims may need to wait until the first or second quarter of 2025 for payouts.

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The post FTX Token Soars 70% Amid Speculation of Bankruptcy Payouts appeared first on Coin Engineer.