#Social #demand #activity #FTX ( #FTT ) ▶️ full #strategy @INVESTIDEAUA
Trading Volumes: Down -97.68% from 7-day high to approximately $178,343.21. Observations: The significant drop in trading volume, which was down 97.68% from its 7-day high, appears to have a strong correlation with the 18.8% decline in FTT price, suggesting that decreased trading activity may be a factor , contributing to downward pressure on the value of the token.
🔸 Capital Flows: Increased from -242,666.12 FTT in the last 7 days to -137,433.44 FTT, indicating an upward trend. Observations: Capital flows for FTT are seeing a reduction in negative outflows, indicating a reduction in selling pressure, which may not yet be reflected in the price as it continues to show a downward trend.
🔸 Order Book Depth: The order book depth for FTT shows a higher buy side with an amount of 26,251.84 compared to a sell amount of 12,091.87, suggesting potential price support despite the recent downtrend with a 7-day decline of 18. 8% of the maximum level of $3.15.
📈Technical characteristics:
🔸 MACD: The MACD has crossed its signal line three times, with the last cross indicating bullish sentiment, however the overall neutral convergence/divergence trend suggests a lack of strong momentum, consistent with the observed downward trend in prices.
🔸 RSI: The RSI averaging at 43.04 and maintaining a neutral trend suggests that the market is in equilibrium, however, a downward trend in prices may indicate underlying bearish sentiment that is not fully reflected in the RSI.
🔸 OBV: OBV is trending higher despite prices trending lower, indicating bullish OBV divergence that could indicate an upcoming reversal in the price downtrend as buying pressure continues.
🔸 Bollinger Bands: An asset's Bollinger Bands narrow, signaling lower market volatility, with price breaking the lower band four times, which can indicate a bearish trend and potential oversold conditions.
