1 FXS token price is in an uptrend and is forming an ascending triangle pattern.
2 Buyers are trying to push the coin above the $10 neckline mark.
The Frax Share (FXS) token has reflected a pullback from the 200-day moving average mark and has returned to strength in recent sessions. However, the bulls failed to sustain above $10 and showed a rejection shadow. The price then consolidates near the breakout zone, awaiting a breakout of the zone. Frax Share (FXS) price continues to accumulate amid positive market sentiment and has resumed gains of over 70% over the past few weeks.
The FXS token has climbed above important moving averages and is bullish, replicating a favorable outlook for the coming sessions. The trend is intact and buyers are trying to achieve a breakout above the immediate $10 barrier. Price action is showing higher highs and the coin is still delivering gains decisively.
At press time, the cryptocurrency was trading at $9.247, up 3.20% intraday, showing a pullback from the 200-day moving average. Additionally, trading volume increased 5.19% to $31.31 million, highlighting the bullish bias. The price of the FXS/BTC pair is 0.000222 BTC, while the market cap is $1.66 billion. Analysts are bullish and say Frax stock will continue to rise and could top $10 in the coming sessions.
FXS shows ascending triangle pattern on daily chart
On the daily chart, the FXS token is in an uptrend and is about to break out near $10. Meanwhile, buying momentum has been muted, delaying gains; investors are awaiting a breakout and reviewing the past session.
The relative strength curve remains near its midline and exhibits positive divergence, leading to a bullish bias. Additionally, the MACD indicator is showing a bullish crossover and forming a green bar on the histogram, indicating an outperforming outlook for the next few sessions.
FXS weekly chart shows rejection of 100-day EMA
On the weekly chart, FXS formed a double bottom pattern and pulled back from the bottom of $4. Subsequently, the buying momentum continued and the token did not exhaust its gains and continued its upward trend. The Fib level means the coin has sustained above 38.2% and is approaching the 50% mark.
generalize
The Frax Share (FXS) token is in an uptrend and is ready to extend its gains above the $10 resistance. Meanwhile, bears are doing their best to protect the area, but technical indicators are pointing to a possible explosion soon.
techinque level
Support levels: $9 and $8.80
Resistance: $10 and $10.60
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