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- 1 Frax Share crypto has struggled to sustain above 20, 50, 100, and 200-Day exponential moving averages.
- 2 Bulls and bears indulge in a battle over the price grip, but both don’t have a proper grip on the price.
- 3 FXS price major buying zone is close to $3.633 and the major selling zone is $14.269.
Frax Share crypto is in the bullish momentum heading toward the major supply zone by making a higher high structure. Buyers are highly active in the price and dominate the bears. However, the price has faced mild weakness in recent times but probably it will bounce back from the lower dynamic support.
As per the trading view data, Frax Share’s crypto price is trading at $8.802 with an intraday gain of 1.39%, indicating a bullish trend. A 24-hour Trading volume is 28.96 Million, and the market capitalization stands at $677.11 million.
The digital asset is down by 7.79% in a month but has grown by almost 21% in the last three months and grown by almost 44.95% in the last 6 months.
Will Frax Share Crypto Break Above the Major Supply Zone
In the one-day time frame, the major demand zone is close to $3.633 and $4.649 where the price reverses back towards the major supply zone of $14.269 and $13.444. FXS price is heading toward the upper level by making higher high structures. The trend is bullish to the upper levels of $13.444 and $14.269.
At the time of publishing, Frax Share crypto (USD: FXS) is trading above the 100 and 200-Day EMA (Exponential moving averages), which supports the price trend.
The current value of RSI is 43.76 points. The 14 SMA is below the median line at 44.50 points which indicates that the Frax Share crypto is mild bearish. The MACD line at -0.167 and the signal line at -0.117 are below the zero line. A bearish crossover is observed in the MACD indicator which signals weakness for the FXS crypto price.
Summary
Frax Share crypto has been showing a bullish trend in the past few months, as it has broken above the key resistance levels and the moving averages. However, the price has also faced some bearish pressure and volatility, as it has struggled to sustain above the major supply zone. The price needs to maintain the momentum and the support of the EMA levels to extend the uptrend. The next targets for the bulls are the $13.444 and $14.269 levels, while the first support is the $8.802 level, followed by the $4.649 and $3.633 levels. The price needs to stay above the $3.633 level to avoid a bearish reversal and a downtrend. Investors and traders should be cautious and do their own research before investing in or trading Frax Share crypto.
Technical Levels
Support Levels: $4.649 and $3.633.
Resistance Levels: $13.444 and $14.269.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
