FUN Price Analysis
Konstantin Kaiser | Feb 23, 2021 20:45
The FunFair (FUN) token surged over 1600% in a little less than two months, since it formed a temporary low at the 50-week-ema on December 22 2021. That being said, there might be still tremendous room for growth. Let’s look at the FUN token from a technical standpoint.
When looking at the daily chart of FUN, it becomes apparent that it’s currently in an upward channel and is currently at the 0.382 fib support, after reaching the yearly high at roughly $0.06. The MACD hints towards a continuation of the correction move. Fun finds its next significant support at the golden ratio, slightly below the 50-day-ema at $0.026.
However, the mid-term trend remains bullish. A golden crossover happened in late 2020, which acts as a confirmation of the bull trend.
The weekly chart of FUN looks extremely bullish, as extremely bullish volume has entered the FUN chart. Nevertheless, the golden ratio support at $0.0225 could be the perfect entry point for those who are looking to join the price hike.
FUN/BTC Weekly Chart on Binance
When looking at the FUN/BTC chart, one should notice that FUN’s recent price hike is still nowhere close to its high in 2018. In fact, FUN just surged between the 2017 low and the 0.382 fib resistance at 0.00000189 BTC. Once FUN/BTC is bullishly bouncing off the 50-week-ema at 0.00000044 BTC, it could be set for another surge towards the golden ratio resistance at 0.000003 BTC.
FUN is an ERC20 token that is utilized by FreeBitco.in through a Premium Membership Program. FreeBitco.in is incentivizing its 41 million registered users to acquire FUN Tokens by offering premium benefits like cashback rewards, free spins, interest payments on Bitcoin savings etc.
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