The crypto markets last week were relatively calm and saw a large sell-off of Bitcoin’s price due to its inability to break the $35,000-mark. This bearish dominance of Bitcoin, of course, had an impact on the performance of other cryptocurrencies, with some reaching new lows in July.
With the bears maintaining dominance in the markets, the crypto ecosystem is in desperate need of a catalyst to break through this range and spark a fresh turnaround. Without the influence of a catalyst, we are likely to see significant sell-offs or a continued static performance among cryptocurrencies in the nearest future.
Fanspel started the week on a promising note, with the price rising to reach the $0.33 mark at the early hours of Monday. However, the bulls were unable to maintain their momentum, and the price dropped to a low of $0.29.
As of Tuesday, the price started on a bullish reversal, surging upwards to $0.30. But the rally was cut short by a strong bearish sell-off, which saw the price plummet to the week low of $0.28.
After a series of downtrend sessions, a significant break was seen surging to the $0.30 resistance. The bulls kept the price at this level for the next few sessions, which lasted until Friday morning.
Following the breakthrough, an equally significant negative trend emerged, dropping the price below $0.29 on Friday. This has been the story for cryptocurrencies in the crypto markets for the past few weeks, as the price swings at regular intervals with no signs of improvement.
Fanspel currently trades at $0.29 with a 24-hour trading volume of $18,404.61. The price is down 14.29% on a 7-day rolling basis, which is a great opportunity for crypto investors to buy at a cheaper price.
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