Fanspel has been struggling to rebound to the $0.57 high it realized on Wednesday. It had a successful start to the week as the bulls pushed the price from a closing low of $0.53 to the $0.57 high on Wednesday. During that period, day traders enjoyed awesome rewards from selling before the end of the day.
During the opening sessions on Wednesday, the price took a different turn as the bears sank the price to the $0.48 mark. The dip was more dominant at the closing of the day when a significant downtrend was found from $0.51 stretching down to $0.48.
The bulls fought back as they stalled the decline at the $0.50 benchmark, which will later become a resistance level for other trend lines. The bulls managed to retain the price for a while until the situation took a turn for the worse. At this point, Fanspel investors have started to realize consolidated losses due to the dump in the price.
On the opening on Thursday, the bulls took advantage of the surging price position from the previous day but couldn’t maintain the momentum as the price fell to $0.455. The price dip progressed until it reached the 0.460 support after a sequence of fluctuating prices. If the bulls do not give much ground from the current levels, it would suggest buying on dips.
The next couple of trends on the weekly chart were bullish as the price increased to $0.51. The price progressed on the bullish course for a few hours before reaching the resistance of $0.48. Just after failing to break the resistance at $0.48, the price fell strongly to arrive at a low of $0.39.
Since the price slump at $0.39, the bulls have been struggling to raise the price back to its reputable standard but failed on many occasions. Fanspel currently trades at $0.40 but still maintains a bearish course. A bearish course that is peculiar amongst several cryptocurrency pairs in recent times.
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