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Nexo price surged after the company settled with the SEC.
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FTX’s new CEO said that the bankrupt exchange could restart.
Digital currencies had a mixed week as investors continued reflecting on the recent rally. They also reacted to important crypto news including the first interview by FTX’s new CEO on the future of the company. This article will provide the prediction of some of the top cryptocurrencies of the week.
FTX Token (FTT)
FTX Token price pared back some of its earlier losses after the current FTX CEO delivered his first interview with the WSJ. In it, he said that his team was working to reboot the collapsed company. He did not offer the timeline of when that will happen. Also, he did not answer the question about the shortfall the company has.
FTT price has been cruising recently after the company identified over $5 billion in liquid assets that it could sell to make customers whole. It has surged by over 181% from its lowest point in 2022, giving it a market cap of over $762 million.
As the FTT price rose, it climbed above the important resistance level at $1.95, the highest point on December 9. It seems like it is forming a double-top pattern whose neckline is at $1.7 and the upper part is at $2.81. The price is being supported by the 50-day moving average. Therefore, the outlook for the FTT price is bullish, with the target being at $2.8, which is about 20% above the current level.
How to buy FTTX Token
Nexo (NEXO)
Nexo has been a survivor during the ongoing crypto winter. While its peers like Genesis, Celsius, and BlockFi have filed for bankruptcy, the company has thrived. The Nexo token price jumped this week after the company settled with the SEC and states for failing to register its lending products. It paid $45 million and avoided admitting any crime.
Nexo crypto price jumped to a high of $0.8363, the highest point since January 13. As it rose, the coin moved along the upper side of the Bollinger Bands and the 50-day moving average. It has formed an ascending channel and is nearing its upper side. Therefore, the NEXO token will likely resume the bearish trend during the weekend and retest the support at $0.75.
How to buy NEXO
Hooked Protocol (HOOK)
HOOK price surged to the highest point since December as gaming tokens surged. The token has moved above the key resistance point at $1.87, the highest level in January. It has continued moving above the 25-day moving average and the ascending trendline shown in purple. It seems like bulls are now in control, which will see the coin’s price surge to $2.5. This outlook is about 22% above the current level.
