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.
Source: Coinmarketcap
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).
Terra (LUNA) Daily Chart/Coinsprobe (Source: Tradingview)
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.
FTX Token (FTT) Daily Chart/Coinsprobe (Source: Tradingview)
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.
