Initiating a fresh increase after creating a solid support level on Monday, Fun is now considered extremely bullish on the daily chart, as it has doubled its price in just five days. It just saw a sudden rejection.
Fun’s market structure has shifted slightly in the past few days following a steady price growth in the past few days. This development resulted from increasing demand and is now bullish following a significant price surge over the past 24 hours.
So far, it’s been a fantastic week for the asset as it saw a major rally in the past few days. This came following a consistent surge after staying well above the $0.00 level on Monday. Currently, the bulls are technically back in control, aiming to reclaim the lost $0.01 level.
Pushing above this key level should set the market up for bigger gains in the near term. A rejection under this level has activated a slight pullback on the lower timeframe, though a rebound is expected. Failure to bounce back could result in a roll over to the current weekly low. An extension below this low could bring the bears back.
While the bulls are still in charge of the market, the trend appears shifted to the upside. If they lose control, Fun’s bears may join the latest market meltdown as the crypto sentiment has slowly turned negative in the past few days.
Fun’s Key Levels To Watch
Source: Tradingview
The recently flipped $0.004 level is considered a close support in case of a pullback. The main support level is located at $0.0031. A breakdown there could plunge the price to $0.0026 in no time.
A recovery above the daily rejected high of $0.0084 could bring us back to last month’s $0.01 resistance, with a potential explosion to a new yearly high of $0.015.
Key Resistance Levels: $0.0084, $0.01, $0.015
Key Support Levels: $0.004, $0.0031, $0.0026
- Spot Price: $0.0.0064
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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