Don't miss this trade!Look out for the following levels. It is still at golden entry level.
Final target can be up to the ATH level. With Blackrock investing in FRAX, it will soon take off.
FXSUSDT trade ideas
FXS🐳#FXS (x32.5556)
🌀7.3720 USDT
💵240 USDT
The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum (with possible cross chain implementations in the future). The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.
FXS "Growth Spurt: Buy Your Ticket to Profit!"FXS Coin: Short Fundamentals, Recent News, and Disclaimer
Fundamentals:
FXS (Frax Share): The governance token of the Frax Shares Protocol, a decentralized finance (DeFi) protocol for the algorithmic stablecoin FRAX.
Launched: November 2020.
Market Cap: ~$420 million (as of Feb 23, 2024).
Rank: #142 on CoinGecko.
Unique Features:
Fractional-algorithmic stablecoin: FRAX maintains its peg to the US dollar through a combination of a basket of cryptocurrencies and an algorithm that adjusts the supply of FXS tokens.
Staking rewards: FXS holders can stake their tokens to earn rewards.
Governance: FXS token holders vote on protocol upgrades and fee distribution.
Recent News:
Feb 20, 2024: Frax Shares Protocol announces partnership with Curve Finance to launch a new FRAX liquidity pool.
Feb 14, 2024: Frax integrates with Layer 2 scaling solution Arbitrum One.
Feb 7, 2024: Frax releases audit report for its smart contracts.
Disclaimer:
This information is for educational purposes only and should not be considered financial advice.
Cryptocurrency investments are highly volatile and carry significant risks.
Do your own research before making any investment decisions.
Additional Notes:
FXS price has been volatile recently, reflecting broader market trends.
The recent news highlights Frax's focus on innovation and DeFi integrations.
It's important to be aware of the risks involved in algorithmic stablecoins before investing in FXS.
FXS big move....FXS is looking very good. Strong in H4, as well as low time frames.
Stay strong earn strong.
Levels $14 -> $17 -> $20
See you at $20.
💡Don't miss the great buy opportunity in FXSUSD @fraxfinance
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (26.948).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. FXSUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 61
Take Profits:
TP1= @ 29.779
TP2= @ 33.672
TP3= @ 37.507
TP4= @ 41.758
TP5= @ 43.885
SL= Break below S2
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💡Don't miss the great buy opportunity in FXSUSD @fraxfinance
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (19.436).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. FXSUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 83
Take Profits:
TP1= @ 21.507
TP2= @ 22.508
TP3= @ 23.956
TP4= @ 25.691
TP5= @ 27.515
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
