FTT Surges as FTX Plans Creditor Payments

FTX Token (FTT) Price Rises as FTX Plans Creditor Payments on February 18

FTX Token (FTT) price has increased following the news that the exchange will begin payments to Bahamas creditors on February 18. Despite this positive development, FTT is still struggling to maintain levels above $2, with technical indicators showing mixed signals.

While the Relative Strength Index (RSI) has recovered from oversold conditions and bullish momentum is building, the Average Directional Index (ADX) remains weak, suggesting that trend strength is not yet fully established. If FTT can break key resistance levels, it could push toward $3. However, a failure to hold current support may lead to a deeper pullback.

FTX Token's DMI chart shows that its ADX has dropped to 23.4, down from 41 just four days ago. This decline suggests that the strength of the previous downtrend is weakening. ADX measures trend intensity but does not indicate direction, meaning that while FTT is attempting to form an uptrend, the lower ADX suggests that the momentum behind this move is not yet strong. If ADX falls further below 20, it could indicate consolidation, while a rebound above 25 would signal a strengthening trend.

FTX Token +DI has surged to 27.7 from 14.1 in just one day, signaling increasing bullish pressure, while -DI has dropped from 26.5 to 15.3, showing that bearish momentum is fading. This crossover, where +DI moves above -DI, supports the case for an uptrend. If ADX starts rising again, FTT could see a stronger bullish continuation, but if ADX remains weak, the price may struggle to gain momentum.

FTX Token's RSI is currently at 59.2, up significantly from 22 just three days ago, after the announcement that FTX will start paying Bahamas creditors from February 18. This sharp increase suggests that buying pressure has returned after FTT was in oversold conditions. An RSI below 30 typically signals that an asset is oversold and due for a rebound, which aligns with FTT's recent price recovery. Now approaching the 60 level, momentum is turning more bullish, though FTX Token