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
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.
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