Cryptocurrencies enjoyed huge gains last week as the total market cap rose above $1.6 trillion for the first time in two months. It was reported that Bitcoin gained over $100 billion in market value and peaked at $750 billion as its price broke the $42,000 level for the first time since May.
Bitcoin’s success over the past week sparked interest among other cryptocurrencies in the market as prices spiked to unprecedented levels. Fanspel(FAN) gained 3% over the past week to hit $0.29 on Sunday.
As of Monday, Fanspel emerged from a downward trend to swing upwards to $0.28. However, with a heavy sell-off and low trading volume, the rise was short-lived as the price dumped to $0.26.
The bulls returned to action with high volume attempting to raise the price to the $0.30 target but were cut short at $0.27 following a fresh wave of selling in the crypto market.
Following a series of volatile price swings, a high was subsequently reached at $0.28, which lasted into the next month and broke the $0.30 resistance before falling due to profit-taking.
This appears to be a promising new month; as major moving average indicators predict the cryptocurrency will appreciate in the next weeks.
Fanspel’s RSI level also indicates a slight uptrend after several weeks encouraging investors to buy in on the cryptocurrency at the early stages before it gets overbought.
Fanspel currently trades at $0.28 with a 24-hour trading volume of $45,932.94 high. The price is currently in a decline, which presents an excellent chance for crypto investors to purchase at a lower price.
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