FANSPEL PRICE ANALYSIS : 20 April 2021
A bearish trend was peculiar among cryptocurrency pairs last weekend. Popular cryptocurrencies such as Bitcoin and Ether weren’t left out as both cryptocurrencies experienced a sharp dump in price by 15% and 18% respectively. At this point, many cryptocurrency investors were put on the fence about whether they should buy the dips or close their positions to avoid consolidated losses.
Fanspel is one of the digital currencies that experienced a price dump during the weekend. It started on April 16, when the price dipped to $0.45. It continued on that downward trend which dipped at about $0.43. A weak bullish trend was then recorded at 0.44 which lasted only for a few hours. The bears regained control causing the price to drop to $0.43.
Just after the high was formed at $0.45, the pair started on a downward trend and recorded a low near the $0.42 benchmark. The bulls later regained control as a rebound was staged at $0.43. After the rebound, a sequence of upward movements was realized which peaked at $0.44.
In the next few sessions, a sequence of uptrend and downtrends were realized, but the most significant activity during that period was a sharp downside movement that dips towards the direction of $0.42.
A high was then formed at about $0.43 which extended to $0.44 and peaked at $0.45. After a series of strong bullish trends were featured in the previous sessions, a mixed and short-lived sequence of trends was established at the $0.46 resistance. The bulls couldn’t pull through the resistance as the FAN dipped to about $0.43. The bulls fought back after a series of sessions and raised the price to the $0.44 resistance level.
After reaching the $0.44 resistance the price dipped to unprecedented levels. It maintained a steady downtrend to the $0.39 support before a slight upward movement towards $0.40. The bulls couldn’t maintain this uptrend as the price fell strongly to $0.37.
In the next couple of sessions, FAN began to gain momentum as it surged to the $0.40 resistance level. A slight setback was experienced at about $0.39 before rebounding and reaching unexpected levels. This time, FAN broke through the resistance at $0.40 and surged upwards moving past $0.42 and peaking at $0.44. The price continued on this momentum, enduring minor setbacks and peaking at $0.45 on Monday.
FAN currently trades at about $0.45 after rebounding from a strong bearish dump during the weekend. Although the price is currently on a downside trend, the price is looking to bounce back and maintain higher positions.
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