The crypto market is somewhat at a standstill over the past few days as major cryptos registered marginal price movements. However, while large market cap cryptos struggle to lift their prices, FUNToken chose to follow a different route. Notably, in the last seven days alone, FUN price registered a whopping 189% increase. Though this growth might give a notion of a few slow-moving days going forward, the reality might be different. Ergo, let’s take a closer look at what FUNToken is up to.
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FUNToken price reaches a resistance
After this massive triple digit growth last week, FUNToken price now sits at $0.0098, pushing its market capitalization to over $107 million. Thanks to this, FUN price is now near its major $0.01 resistance. Over the past 2 days, the token has been trying to break above that barrier. Though that hasn’t happened yet, but things can turn in FUN’s favor quickly. In fact, a key technical indicator suggested that the chances of FUNToken price crossing $0.01 are high. The technical indicator MACD displayed a clear bullish upper hand in the market, which can soon translate into a continued price surge
Source: TradingView### There is a catch!
Nonetheless, as the crypto market is infamous for its unpredictability, no price movements can be anticipated with utmost certainty. For example, the Relative Strength Index (RSI) had a reading of 85.4—signaling that FUNToken was in the overbought zone. Because of this, investors might load off their holdings to earn profit, which can have a negative impact on the token’s price
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What on-chain metrics suggest
On-chain data shows that investors might have started to sell their holdings. As per Santiment, a data analytics platform, FUNToken’s supply on exchanges increased slightly while its supply outside of exchanges dipped. This means that selling pressure is high, which often results in price drops
Source: SantimentHowever, FUN’s network growth increased sharply, suggesting that more new addresses were used to transfer the token. Coinglass’ data relieved yet another optimistic metric. FUNToken’s long/short ratio remained high in the 12-hour time frame—a sign of more long positions in the market than short positions
Source: CoinglassTherefore, if the bullish momentum lasts, then it won’t be surprising to see FUNToken price crossing $0.01 mark and reach new highs. But, if the bears’ takeover, then its price might first plummet to its support near $0.006 before gaining upward momentum again,
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Conclusion—Will FUNToken price remian bullish?
FUNToken price is showing strong bullish signals, with key indicators and metrics hinting at continued upward momentum. While the $0.01 resistance poses a short-term challenge, sustained investor interest and network growth may fuel further gains. Still, traders should remain cautious, as overbought conditions could trigger a temporary correction.
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Frequently Asked Questions (FAQs)
What is driving the recent surge in FUNToken price?
The FUNToken price surged 189% in a week due to strong bullish indicators and rising investor interest.
Is FUNToken expected to break the $0.01 resistance level soon?
Technical indicators like MACD suggest a possible breakout above $0.01 if bullish momentum continues.
Are there any risks to FUNToken's current rally?
Yes, high RSI and increased exchange supply indicate possible profit-taking, which could cause a short-term dip.
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Dipayan is a full-time journalist and editor working in the Web3 domain. He has over 4 years of experience in the media industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. Technical analysis and assessing market trends is what he specializes in. His work has been featured on popular crypto platforms like AMBCrypto.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
Konten ini hanya untuk referensi, bukan ajakan atau tawaran. Tidak ada nasihat investasi, pajak, atau hukum yang diberikan. Lihat Penafian untuk pengungkapan risiko lebih lanjut.
FUNToken Price Is Flashing Bullish Signals — Here’s What That Means
The crypto market is somewhat at a standstill over the past few days as major cryptos registered marginal price movements. However, while large market cap cryptos struggle to lift their prices, FUNToken chose to follow a different route. Notably, in the last seven days alone, FUN price registered a whopping 189% increase. Though this growth might give a notion of a few slow-moving days going forward, the reality might be different. Ergo, let’s take a closer look at what FUNToken is up to.
Advertisement Advertisement
FUNToken price reaches a resistance
After this massive triple digit growth last week, FUNToken price now sits at $0.0098, pushing its market capitalization to over $107 million. Thanks to this, FUN price is now near its major $0.01 resistance. Over the past 2 days, the token has been trying to break above that barrier. Though that hasn’t happened yet, but things can turn in FUN’s favor quickly. In fact, a key technical indicator suggested that the chances of FUNToken price crossing $0.01 are high. The technical indicator MACD displayed a clear bullish upper hand in the market, which can soon translate into a continued price surge
Source: TradingView### There is a catch!
Nonetheless, as the crypto market is infamous for its unpredictability, no price movements can be anticipated with utmost certainty. For example, the Relative Strength Index (RSI) had a reading of 85.4—signaling that FUNToken was in the overbought zone. Because of this, investors might load off their holdings to earn profit, which can have a negative impact on the token’s price
Advertisement Advertisement
What on-chain metrics suggest
On-chain data shows that investors might have started to sell their holdings. As per Santiment, a data analytics platform, FUNToken’s supply on exchanges increased slightly while its supply outside of exchanges dipped. This means that selling pressure is high, which often results in price drops
Source: SantimentHowever, FUN’s network growth increased sharply, suggesting that more new addresses were used to transfer the token. Coinglass’ data relieved yet another optimistic metric. FUNToken’s long/short ratio remained high in the 12-hour time frame—a sign of more long positions in the market than short positions
Source: CoinglassTherefore, if the bullish momentum lasts, then it won’t be surprising to see FUNToken price crossing $0.01 mark and reach new highs. But, if the bears’ takeover, then its price might first plummet to its support near $0.006 before gaining upward momentum again,
Advertisement
Advertisement
Conclusion—Will FUNToken price remian bullish?
FUNToken price is showing strong bullish signals, with key indicators and metrics hinting at continued upward momentum. While the $0.01 resistance poses a short-term challenge, sustained investor interest and network growth may fuel further gains. Still, traders should remain cautious, as overbought conditions could trigger a temporary correction.
Advertisement
Frequently Asked Questions (FAQs)
The FUNToken price surged 189% in a week due to strong bullish indicators and rising investor interest.
Technical indicators like MACD suggest a possible breakout above $0.01 if bullish momentum continues.
Yes, high RSI and increased exchange supply indicate possible profit-taking, which could cause a short-term dip.
✓ Share:
Trending
Price Analysis
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 Dipayan Mitra
Dipayan is a full-time journalist and editor working in the Web3 domain. He has over 4 years of experience in the media industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. Technical analysis and assessing market trends is what he specializes in. His work has been featured on popular crypto platforms like AMBCrypto.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses. Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.