FTX is currently painting an interesting technical setup on the charts. The token appears to be forming a falling wedge pattern, a classic bullish reversal indicator that traders closely monitor. At the current price level around $0.4936, the setup is catching attention from analysts tracking potential upside breakouts.

The key target zone being watched sits at $0.650, which would represent a significant move from present levels. What's adding credibility to this scenario is the volume behavior—traders are noting that trading activity has been building throughout this consolidation phase. This accumulation often precedes directional breakouts in either direction.

For those watching FTX, confirmation of the wedge breakdown becomes critical. Traders are keeping close tabs on whether volume can sustain any moves beyond the resistance levels, which would validate the bullish thesis embedded in this pattern.