Fame Rewards Plus Price Consolidates Above $70 – Key Levels To Watch

FRP price trades just below the $75 mark after rising 1.73% in the past 24 hours. The slight gain was a reflection of what was going on in the wider crypto market as some coins traded in the green while others flashed red. However, the changes were not so pronounced, pointing to consolidation of prices across the board.

Fame Rewards Plus Price Coils Up As Bulls Eye $105 

FRP trades 15% below the $88 all-time high (ATH) reached on February 3 with no directional bias. This points to decreasing price volatility as traders wait to see the direction this metaverse token would take. 

This was validated by the horizontal movement of the Fame Rwards Plus price and the flattening 50-day Simple Moving Average (SMA). In addition, the position of the Relative Strength Index (RSI) at 46 close to the midline attested to the indecision. Moreover, the Moving Average Convergence Divergence (MACD) was at the middle line suggesting that the market sentiment was neutral. 

If the FRP price favors the buyers, it would move from the current levels to confront resistance from the 50-day Simple Moving Average (SMA) at $75. The next barrier is positioned at the ATH at $87. Beyond that, the token would rise to discover new prices with the possibility of tagging the 123.6% Fibonacci retracement level at $105, in the near term. This would represent a 42% ascent from the current price.

FRP/USD Daily Chart

TradingView Chart: FRP/USD

If the Fame Rewards Plus price was to favor the bears, it could slide below the 78.6% Fibonacci retracement level at $72.5 to tag the $70 psychological level. A daily candlestick close below $70 would initiate massive sell orders to $60, embraced by the 61.8% Fibonacci retracement level. 

Lower than that next logical move would be the $51 level, where the 50% retracement level and the 100-day SMA appeared to meet. Other levels to watch on the downside are the 38.2% and the 23.6% extension levels at $43.4 and $32.8 respectively, before completing the full retracement to $15.8. 

FRP Alternatives

While investors count the days to the Shanghai upgrade, diversify your portfolio with TARO, the ticker token for the RobotEra ecosystem. The project’s TARO token is in the presale stage, where it has collected upwards of $937, 000 in token sales.

RobotEra delivers a very engaging web3 gaming experience, wherein participants are robots who belong to seven different factions. Each of the factions has unique characteristics and benefits. The participants are allowed to become landowners. Land ownership comes with privileges such as the ability to customize one’s own land or develop robot companions. These companions assist them in navigating better within the expanse of the metaverse.

The project is at the forefront of the metaverse era, bringing forth an innovative operational mechanism. Thus far, RobotEra has received massive community support as early entrants enjoy discounted prices from as low as 0.025 USDT.

Analysts are also bullish about TARO, saying it is among the new innovative projects that will explode in 2023.

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