FXS BTC Frax Share Technical Analysis

Frax Share logo In this Frax Share technical analysis, we will examine the current price action, trading volume, key levels and indicators for FXS-BTC. Frax Share (FXS) is a cryptocurrency that utilizes a novel algorithm called “Fractional Reserve Banking” to create a more stable and scalable blockchain ecosystem. By leveraging this technology, Frax Share aims to provide users with a more secure and reliable platform for conducting transactions and storing value. With its innovative approach, Frax Share has the potential to revolutionize the way we think about cryptocurrency and digital assets.

Frax Share Price Overview:

As of October 02, 2023, Frax Share is trading at approximately 0.00019 BTC. Let’s dive into the detailed price action for FXS-BTC:

Metric Value
Open (O) 0.00021
High (H) 0.00021
Low (L) 0.00019
Close (C) 0.00019
Volume (C) 7,492.30
  • Open (O): The opening price for today’s trading session was approximately 0.00021 BTC.
  • High (H): Frax Share reached a daily high of around 0.00021 BTC.
  • Low (L): The daily low for FXS-BTC was approximately 0.00019 BTC.
  • Close (C): At the time of analysis, Frax Share is trading near its daily close of 0.00019 BTC.
Metric Value
1D Change (%) -7.85%
3D Change (%) -9.06%
7D Change (%) -9.48%
30D Change (%) -11.33%
90D Change (%) -7.97%
YTD Change (%) -22.16%

Over the past three days, FXSBTC has fallen by approximately -9.06%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -9.48%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with FXSBTC maintaining a downward trend of approximately -11.33%, despite intermittent fluctuations. Examining the last 90 days, FXSBTC has witnessed substantial decline of approximately -7.97%, reflecting strong long-term confidence. Year-to-date, FXSBTC has steadily dropped by around -22.16%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Frax Share Live Chart:

You can access a live price chart for FXS-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.49439.
  • Momentum score is -0.11327.

FXS BTC Technical Analysis

Frax Share Trading Volume:

The trading volume for Frax Share (FXS) over the past 24 hours has been significant, with approximately 7,492.30 BTC traded against FXS. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): FXS is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Frax Share is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for FXS-BTC is currently in the low zone, around 44.76299. This suggests that Frax Share is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Frax Share (FXS-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.