Frax Share Price Analysis: Will FXS maintain above $4.32


  • FXS gained approximately 1.2% within the last 24 hours.
  • Frax Share gain bullish momentum over the past week gaining 0.76%.
  • Frax Share has a medium term resistance at $8.14.
  • 24-hour trading volume for Frax Share is hovering at $25,750,348.00.

25 April 2024 : In this article we will walk you through Frax Share price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Frax Share, Is FXS a good investment? Frax Share support & resistance levels etc. But before diving deep into the FXS technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,362,405,730,852. The total trading volume stands at $84,230,672,436. Bitcoin shares 53.39 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $64,063.11 level after a decline of -3.62%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -3.41 percent reaching to $3,140.71 during the previous 24 hours.
While publishing this blog, BNB traded at $611.76, following a price change of 0.25% within the same time frame. SOL the native coin of Solana is down by -6.68 and currently trading at $146.82. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Frax Share Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Frax Share (FXS)

FXS Resistance Levels FXS Support Levels
Resistance Level 1 $6.87 Support Level 1 $4.32
Resistance Level 2 $8.14 Support Level 2 $3.05
Resistance Level 3 $9.41 Support Level 3 $1.78

Frax Share Performance

The current Frax Share price is $9.13, with a trading volume of $25,750,348.00 in the past 24-hours. Currently, FXS is up by 1.2% since yesterday with a market capitalization of $700,484,927.00 USD.

Frax Share Price Analysis

FXS price analysis for 25 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Frax Share.

Moving Averages Price Indicator
Simple Moving Average (10) 5.43 Buy
Exponential Moving Average (10) 5.56 Buy
Simple Moving Average (20) 4.98 Buy
Exponential Moving Average (20) 5.09 Buy
Simple Moving Average (50) 5.26 Buy
Exponential Moving Average (50) 5.30 Buy

The MACD line is standing above of the signal line after a positive crossover. Frax Share investors need to wait for any directional change over the daily chart. While FXS’s Williams %R indicator is at -29.026 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. RSI implying overbought phase while trading at 83 and a trend reversal is possible for short-term.

Conclusions

There had been a positive trend for some time and it seems that the coin will continue it upward movement as long as it remains in the green area. You should only acquire crypto right now if you're prepared to book profit through short-term market moves.