- Bitcoin has rebounded from $76,000 to around $83,000, showing early signs of market recovery after months of steep corrections.
- LUNA surged 9% today after breaking out of a falling wedge pattern, successfully surpassing the upper trendline around $0.19 and now trading at $0.23.
- FTT is approaching a potential similar breakout, currently trading at $1.37 after rebounding from $1.00 and nearing the upper resistance of its falling wedge pattern.
- If FTT confirms its breakout, it could target $1.74 and potentially rally to $2.22, representing up to 62% upside from current levels.
Date: Tue, March 18, 2025 | 05:04 AM GMT
The cryptocurrency market is showing early signs of recovery, with Bitcoin (BTC) rebounding from its recent low of $76,000 to trade around $83,000. After months of steep corrections, tokens Terra (LUNA) and FTX Token (FTT), which faced significant declines over the past 90 days, are now beginning to break out of their bearish structures.
Today, LUNA has gained strong momentum, surging by an impressive 9% and breaking out of a key technical pattern. Meanwhile, FTT’s price action is hinting at a potential breakout similar to LUNA, positioning itself for a possible trend reversal.
Terra (LUNA)
LUNA has successfully broken out of a falling wedge pattern that had been restricting its price movement for weeks. The token recently surpassed the upper trendline of the wedge around the $0.19 range, marking a shift in sentiment. Following this breakout, LUNA is currently trading around $0.23 and testing the 50-day moving average (50-MA).
From here, LUNA could either retest the breakout level for confirmation or, if bullish momentum continues, it could approach the next resistance at $0.34, representing a 46% increase from the current price.
The 100-day moving average (100-MA) is also positioned around this zone, meaning that a move beyond this level could trigger further upside potential.
FTX Token (FTT)
FTT has been following a similar trajectory to LUNA, trading inside a falling wedge pattern since its rejection from the $4.18 high on December 27. The token recently rebounded from a low of $1.00 to its current price of $1.37 and is now approaching the upper resistance of the wedge.
If FTT confirms a breakout with a successful retest, its next resistance zone sits near $1.74, where the 50-day moving average could act as a barrier.
A strong move beyond this region could pave the way for a rally toward $2.22 and the 100-day MA, representing a potential 62% increase from current levels.
Final Thoughts
LUNA’s breakout has set the stage for a bullish continuation, while FTT is now at a critical decision point. If FTT follows a similar trajectory, traders could witness significant gains in the coming days. As always, market participants should closely monitor price action and volume confirmation before making investment decisions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
