FANSPEL TOKEN PRICE ANALYSIS : 4 May 2021
Fanspel (FAN) has realized a steady increase in price in the last seven days. It has surged to new highs, surpassing the $0.53 mark. At the start of the previous week, the price was closely stationed at the $0.45 mark before the bulls took charge and raised the price to unprecedented levels. Judging from the chart a channel is seen extending from April 27 to May 1.
On April 27, the bulls tried to push the price above the $0.48 high but were facing significant resistance from the bears. The bears succeeded and brought down the price to the $0.46 mark which was established as a support for the bulls. After reaching this support, the bulls pushed to rebound the price to higher levels but were stopped short by the bears at about the $0.47 mark.
In the next few sessions, the FAN/USDT pair established an inside day candlestick pattern, indicating indecision among the bulls and bears. The uncertainty later resolved at the $0.48 mark when the bears brought down the price to the $0.46 low.
A strong uptrend was discovered at $0.46 which later surged to the $0.47 benchmark. A low followed at about $0.45, which only lasted a few moments before the bulls raised the price to the $0.48 high.
The next few sessions were highly volatile as the price fluctuated at various levels before emerging at the $0.47 low. The price then surged to unexpected levels breaking the resistance at $0.50 and peaking at $0.51.
Just after peaking at $0.51, the price fell strongly to the $0.48 low. The bulls tried hard to rebound the price to the closest resistance but the bears held their position and kept the price at about $0.49.
The next couple of movements on the chart were bullish as the price rose steadily back to the $0.50 resistance. It then broke the resistance and went on a bullish course to the $0.52 benchmark. After peaking at $0.52, a weak bearish trend was visible that lasted for a few moments before the price rebounded and broke a record high of $0.54.
In the next couple of sessions, the price fluctuated but kept a steady bearish course to the $0.51 mark. The bulls then fought back and raise the price to $0.53.
Fanspel is currently trading at $0.56, maintaining a bullish course, and it is projected to surge further upwards in the future.
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