AS Roma Fan Token ( $ASR ) is up 25% today; however, the reason for the pump is unclear. What can be noticed is that the price seems to be retracing after some recent bearish moves.
Upward moves can be shortened by a variety of factors, including:
Fan tokens typically do not have extended price increases. Sometimes they spike briefly based on the hype surrounding them and eventually disappear.
There is a 50-SMA resistance level above the price that could act as resistance for further price growth.
The price has been within the descending trendline since early April and we cannot expect any major upside until the resistance is broken.
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io.net exits the descending channel
On the other hand, io.net is preparing for the next price increase with prices increasing by more than 30% in the past 3 days. $IO has finally broken out of the descending channel and we could see the uptrend continue for a number of days.
Cryptocurrency analyst Decilizer, commenting on IO's price, said the price appears to be bullish after receiving support at around $2. The analyst expects a spike to around $3.80. He believes that Bitcoin will increase in price. Rally Could Support Bitcoin. The most recent Bitcoin price increase caused the price of IO to skyrocket by about 120%.
Usually, after breaking the descending trendline, the price will spike to the top of the channel. If that happens in this case, IO could skyrocket to $6, an increase of about 140% from current levels.
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This is NOT investment advice, this is useful advice
