Crypto price predictions: FTX Token, Fetch.ai, Cortex (CTXC)
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Cryptocurrencies were still in a somber mood this week.
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FTX Token rose by more than 30% despite SBF legal woes.
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Fetch.ai token surged after a staking announcement by Binance US.
Cryptocurrency prices remained in a tight range this week as investors focused on macro issues in the United States. Data published last week revealed that the American economy added 284k jobs in November while the unemployment rate remained at 3.7%. Therefore, investors believe that the Fed will leave rates at an elevated level for longer than expected. Here are the top crypto predictions for this weekend.
FTX Token (FTT)
FTX Token token price soared by more than 31% in the past 24 hours, according to data compiled by Binance. It still remains near its all-time low as Sam Bankman remains in legal limbo. As we wrote here, American authorities are investigating him on a myriad of crimes.
In recent interviews, Bankman has hinted that FTX and Alameda Research did indeed comingle customer funds, which is a crime. Therefore, there is a likelihood that he, and other FTX and Alameda officials will be locked up for a while.
The hourly chart shows that the FTT price went parabolic on Friday. As it rose, it managed to rise above the important resistance at $1.538. It also moved above the 25-day moving average. Still, I believe that this rally is a dead cat bounce, which will see it retreat in the coming days.
How to buy FTX Token
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Bitfinex
Bitfinex is a bitcoin exchange platform that provides advanced services for digital currency traders and liquidity providers.
Fetch.ai (FET)
Fetch.ai price was among the best-performing tokens this week. It rose to a high of $0.1290 after Binance US enabled staking. Historically, cryptocurrencies tend to rally after being offered by a major exchange like Binance or Coinbase.
On the hourly chart, we see that the FET price went parabolic this week. Recently, however, it has scaled back and dropped by double-digits from its highest point. It has moved above the moving averages.
Therefore, Fetch.ai price will likely resume the bearish trend as the staking mometum wanes. If this happens, it will likely drop below the important support at $0.100.
How to buy Fetch.ai
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Coinbase
Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from.
Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.
Cortex (CTCX)
Cortex describes itself as the first decentralized world computer capable of running AI and AI-powered apps on the blockchain. It is a layer-2 network with zero-knowledge features. The CTXC price soared by more than 100% on Friday as the Cortex Army pumped the coin.
On the hourly chart, we see that the CTXC price has been in a bullish trend. It has moved above all moving averages, VWAP, and the ascending trendline shown in black. There is a likelihood that the highly illiquid coin will pull back on profit-taking during the weekend. If this happens, it will drop and retest the support at $0.15.
