The cryptocurrency market is beginning to show signs of recovery. Bitcoin is rebounding strongly, and LUNA and FTT are showing significant improvements.
Current Cryptocurrency Market Situation
Bitcoin recently rose to $83,000 after falling to $76,000. LUNA and FTT, which have experienced significant declines over the past 90 days, are also starting to break out of bearish structures.
Terra Token (LUNA)
LUNA successfully broke out of a falling wedge pattern that had been restricting its growth. Surpassing the upper trendline of the wedge at $0.19, LUNA is now trading around $0.23 and testing the 50-day moving average.
FTX Token (FTT)
FTT follows a similar path to LUNA, trading inside a falling wedge. The token recently climbed from $1.00 to $1.37, approaching the wedge's upper resistance. A breakout by FTT could lead to a rise to $1.74.
LUNA's breakout sets an optimistic path, while FTT is at a critical point. If FTT follows LUNA's success, significant changes are on the horizon.
