Cryptocurrencies delivered yet another week of impressive returns, with prices surging to new monthly highs. Many people are optimistic about the future of this innovation as the rest of the world is finally catching on to what has been so abundantly clear for years. Digital currencies continue to advance despite their volatility, and as long as that trend holds, interest will increase significantly.
Fanspel gained over 10% on a 7-day rolling basis, with the price surging to $0.32 on Monday.
Fanspel emerged from a $0.29 low last week to catch up with the bullish trend popular in the crypto market in recent weeks. A strong uptrend saw the price spike to the $0.30 resistance with high volume, after which it consolidated for a few sessions.
On Wednesday, the bulls broke through the $0.30 resistance and extended the uptrend to a high of $0.32. The price, however, dropped after a few sessions, as predicted by the RSI indicator due to an overbought condition.
Fanspel still traded above the 200 EMA, which signals a bullish move for the cryptocurrency in the long term.
In the forthcoming sessions, the price fluctuated across the $0.32 and $0.30 levels, forming a rectangular pattern.
Fanspel is currently trading at $0.318; if the price continues its uptrend and rises above the overhead resistance zone at $0.32, it will indicate that bulls intend to push the price higher.
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