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- 1 The price of the coin dropped from the level that prevents it from going higher in the past few days, which is the foundation of the Frax price prediction.
- 2 As per Frax price (BITSTAMP: FRAX), the coin price increased by 0.29% over the last 24 hours.
- 3 The price of the Frax coin is trading at $0.9963 and the 52-week price bound range is $0.9907 – $1.0006.
Frax is a stablecoin that is partially supported by collateral and partially regulated by algorithms. It is distributed, adaptable, and ruled by the community. Frax wants to replace fixed-supply assets like BTC with algorithmic money.
Frax (FRAX) has a fully diluted valuation (FDV) of $812,482,415, according to the crypto data and information website Coingecko. This is a hypothetical market cap, assuming all 810 Million ETH tokens are in circulation today. However, the actual FDV may vary depending on the supply and demand of ETH tokens over time.
As per Coinmarketcap, Frax crypto surged by 0.06% in market value and plummeted by 17.90% in trading volume in the last 24 hours. Its market value is $810,217,569 and its trading volume is $15,130,171. There are 812,641,409 FRAX in circulation.
Moreover, the Frax Coin has shown poor performance this month, as it is down by 0.51% and by 0.53% in the past six months.
FRAX Price Technical Analysis in 4-H Timeframe
The price of the FRAX coin has been falling for the last three months, losing 1.14% of its value. At the moment, the FRAX price is $0.9963 and making lower highs and lower lows and trying to sustain the CMP level.
This means that the FRAX coin price might keep going down and reach the first and second targets of $0.99070 and $0.98912 if it does not hold the current level. However, if the FRAX price stays at the current level and goes up, then it could hit the closest resistance levels of $1.00045 and $1.00220.
The FRAX coin price (BITSTAMP: FRAX) is below the 50 and 200-day EMAs (exponential moving averages) at the time of publishing, which is pushing the FRAX Coin price down. Therefore, the Frax price prediction expects the prices to go down giving negative views over the hourly time frame chart
The MACD line at 0.00067 and the signal line at 0.00080 is below the zero line suggesting bearish signals. The current value of RSI is 53.83 points and the 14 SMA is below the median line at 41.82 points as observed both lines are intermingled with each other showing consolidation in price, which indicates consolidation to a downward direction and bearish sentiment in the market of FRAX Coin.
Conclusion
The FRAX price prediction shows the feelings and opinions of investors and traders about the Frax coin price being low in the 4-H time frame. The FRAX price movement shows a negative view at the time of writing. Also, the technical factors of the Frax price suggest the downtrend will continue over the hourly time frame chart. Major reliable indicators MACD, RSI, and EMA, give negative signals about the Frax coin price.
Technical Levels:
- Support Levels: The nearest support levels are $0.99070 and $0.98912.
- Resistance levels: The nearest resistance levels are $1.00045 and $1.00220.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
