In this Frax Share technical analysis, we will examine the current price action, trading volume, key levels and indicators for FXS-USDT. Frax Share (FXS) is a decentralized cryptocurrency that utilizes a novel algorithm to maintain a stable value pegged to the US dollar. This allows users to enjoy the benefits of cryptocurrency investment without the volatility typically associated with digital assets. With Frax Share, users can easily transfer value across borders without worrying about exchange rate fluctuations or other traditional currency limitations.
Frax Share Price Overview:
As of June 30, 2024, Frax Share is trading at approximately 3.031 USDT. Let’s dive into the detailed price action for FXS-USDT:
| Metric | Value |
|---|---|
| Open (O) | 3.01 |
| High (H) | 3.055 |
| Low (L) | 2.947 |
| Close (C) | 3.031 |
| Volume (C) | 363,221.60 |
- Open (O): The opening price for today’s trading session was approximately 3.01 USDT.
- High (H): Frax Share reached a daily high of around 3.055 USDT.
- Low (L): The daily low for FXS-USDT was approximately 2.947 USDT.
- Close (C): At the time of analysis, Frax Share is trading near its daily close of 3.031 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.63% |
| 3D Change (%) | -6.45% |
| 7D Change (%) | -7.70% |
| 30D Change (%) | -35.54% |
| 90D Change (%) | -58.09% |
| YTD Change (%) | -64.72% |
Over the past three days, FXSUSDT has declined by approximately -6.45%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -7.70%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with FXSUSDT maintaining a downward trend of approximately -35.54%, despite intermittent fluctuations. Examining the last 90 days, FXSUSDT has witnessed substantial decline of approximately -58.09%, reflecting strong long-term confidence. Year-to-date, FXSUSDT has steadily dropped by around -64.72%, 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-USDT 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 0.55625.
- Momentum score is -0.28107.
FXS USDT Technical Analysis
Frax Share Trading Volume:
The trading volume for Frax Share (FXS) over the past 24 hours has been insignificant, with approximately 363,221.60 USDT 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-USDT is currently in the low zone, around 34.65581. This suggests that Frax Share is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Frax Share (FXS-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Envision bearish outlook for Frax Share (FXSUSDT) at 3.03 USDT with weakened support and cautionary indicators, revealed in technical analysis.
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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.