Biggest Movers: FTT Down 30% on Tuesday, Falling to 21-Month Low

FTX token continued a caller sell-off connected Tuesday, arsenic prices slipped to their lowest level since February 2021. The diminution comes arsenic traders liquidated their positions, pursuing caller tweets from Binance CEO Changpeng Zhao. CZ initially stated that the speech would liquidate each its FTT, nevertheless helium has present confirmed that Binance volition beryllium afloat taking implicit its competitor, FTX.

FTX Token (FTT)

FTX token (FTT) fell to its lowest level successful 21-months connected Tuesday, arsenic traders continued to liquidate their positions.

The diminution began aft tweets from Binance CEO Changpeng Zhao implicit the weekend, who stated that the speech would beryllium moving distant from FTT.

CZ tweeted, “Due to caller revelations that person travel to light, we person decided to liquidate immoderate remaining FTT connected our books.”

FTT/USD – Daily Chart

Since this tweet, FTT/USD has fallen for 3 consecutive sessions, with today’s diminution taking the token to a debased of $15.56.

This is the lowest level that prices person deed since February 2021, and comes pursuing a breakout of a cardinal enactment constituent of $22.25.

Prices present look to beryllium oversold, with the comparative spot scale (RSI) present tracking astatine 23.79, which is its weakest constituent connected record.

FTT has since rebounded, arsenic CZ shocked markets by confirming, “This afternoon, FTX asked for our help. There is simply a important liquidity crunch. To support users, we signed a non-binding LOI, intending to afloat get FTX.”

As of writing, the token is present trading astatine $19.37.

Dogecoin (DOGE)

In summation to FTT, dogecoin (DOGE ) was different notable mover, with the meme coin falling by implicit 14% today.

Following a precocious of $0.118 to commencement the week, DOGE/USD slipped to an intraday debased of $0.1007 earlier successful the day.

Dogecoin has been successful free-fall since climbing to a six-month precocious of $0.1589 past Tuesday.

DOGE/USD – Daily Chart

As of writing, the meme coin has present declined for a 4th consecutive day, with today’s determination pushing the RSI to a speechmaking of 53.61.

This is the lowest speechmaking for the scale successful 2 weeks, and comes arsenic the 10-day (red) moving mean (MA) has yet tilted downwards.

Should the momentum of this MA proceed to support its course, DOGE volition apt autumn beneath $0.1000 successful upcoming days.

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Could we spot dogecoin determination beneath $0.1000 this week? Let america cognize your thoughts successful the comments.

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