FXS BTC Frax Share Technical Analysis

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By Frans van Elst

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 decentralized stablecoin that utilizes a novel algorithmic mechanism to maintain its peg to the US dollar. This innovative approach allows FXS to offer a more stable and reliable store of value compared to traditional stablecoins. Additionally, Frax Share’s unique features make it an attractive option for DeFi (Decentralized Finance) applications and other use cases that require a stable and trustworthy cryptocurrency.

Frax Share Price Overview:

As of May 14, 2024, Frax Share is trading at approximately 7e-05 BTC. Let’s dive into the detailed price action for FXS-BTC:

Unveil potential setbacks for Frax Share (FXSBTC) at 6.59e-05 BTC through technical analysis, showcasing bearish trends, weakened support, and cautionary indicators.

Metric Value
Open (O) 7e-05
High (H) 7e-05
Low (L) 7e-05
Close (C) 7e-05
Volume (C) 5,539.10
  • Open (O): The opening price for today’s trading session was approximately 7e-05 BTC.
  • High (H): Frax Share reached a daily high of around 7e-05 BTC.
  • Low (L): The daily low for FXS-BTC was approximately 7e-05 BTC.
  • Close (C): At the time of analysis, Frax Share is trading near its daily close of 7e-05 BTC.
Metric Value
1D Change (%) -0.11%
3D Change (%) -5.01%
7D Change (%) -1.04%
30D Change (%) -15.68%
90D Change (%) -61.34%
YTD Change (%) -67.41%

Over the past three days, FXSBTC has decreased by approximately -5.01%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -1.04%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with FXSBTC maintaining a downward trend of approximately -15.68%, despite intermittent fluctuations. Examining the last 90 days, FXSBTC has witnessed substantial decrease of approximately -61.34%, reflecting strong long-term confidence. Year-to-date, FXSBTC has steadily decreased by around -67.41%, 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 0.41358.
  • Momentum score is -0.09113.

FXS BTC Technical Analysis

Frax Share Trading Volume:

The trading volume for Frax Share (FXS) over the past 24 hours has been insignificant, with approximately 5,539.10 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 32.04764. 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 insignificant trading volume are low signals for potential downward movement.

Unveil potential setbacks for Frax Share (FXSBTC) at 6.59e-05 BTC through technical analysis, showcasing bearish trends, weakened support, and cautionary indicators.

For a deeper dive into the subject, don’t miss our comprehensive analysis on FXS USDT Frax Share Technical Analysis if you found this post intriguing.

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.

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