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Resistance

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Frax Share

Frax

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Frax Share price (FXS) surged 6.26% in the past 24 hours and currently trades at $5.78.</a> </li> 
 <li> <span>2</span> <a>Frax Share price showed a breakout from a bullish flag pattern.&nbsp;</a> </li> 
 <li> <span>3</span> <a>FXS price surged above the 50-day EMA indicating a short-term bullishness in the crypto.&nbsp;</a> </li> 
</ul> 
<p>Frax Share price (FXS) delivers a bullish outlook for the past two trading sessions. The FXS price gained more than 8% in the last two trading sessions and is expected to surge more as per the analysts.</p> 
<p>Frax Share is trading close to its highest level in five days at $5.79. The token has gained 7.86% from its lowest point of $5.15 in the same period but is still 6% below its peak. Frax Share price is above the resistance level, which means it could face more volatility if the rally loses momentum. Support and resistance levels are at $5.31 and $6.04 respectively.</p> 
<p>The daily chart demonstrates the formation of a bullish flag which kept the price in a correction phase until the price was maintained in the channel. The bears lost momentum near the round level of $5 which created an imbalance leading to a breakout of the channel.&nbsp;</p> 
<p>Frax Protocol is a stablecoin that is designed and governed by the community. It has the unique feature of being partially algorithmic and partially backed by collateral. It was the first stablecoin of its kind when it launched in November 2020.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-frax-share-price-show-breakout-of-bullish-flag-over-1-d-timeframe-strong"><strong>Frax Share Price Show Breakout of Bullish Flag Over 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="456" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-825-1024x456.png" alt="Frax Share Price Gains 6% In Intraday, Time To Board The Trend?" class="wp-image-171336" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-825-1024x456.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-825-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-825-768x342.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-825-1536x684.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-825-750x334.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-825-1140x508.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-825.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: FXS/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/09/25/the-fxs-coin-about-to-break-above-consolidation-zone-what-now/" target="_blank" rel="noopener noreferrer nofollow">Frax Share price</a> is currently trading at $5.79 and witnesses a breakout followed by a trend continuation over the daily chart. At press time, the FXS price has gained nearly 6% and might gain more by the end of the Intraday session.</p> 
<p>The volume analysis shows that FXS crypto received $18.43 Million in the past 24 hours, which is 34% more than last day’s volume. The crypto holds a market cap of $429.2 Billion and ranks 76th in the crypto market. The volume to market-cap ratio is 4.42%; indicating mild volatility in the market.</p> 
<h3 class="wp-block-heading" id="strong-technical-indicators-show-bulls-dominance-in-short-term-strong"><strong>Technical Indicators Show Bulls Dominance in Short-Term&nbsp;</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="457" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-826-1024x457.png" alt="" class="wp-image-171337" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-826-1024x457.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-826-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-826-768x343.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-826-1536x685.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-826-750x335.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-826-1140x509.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-826.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: FXS/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>MACD lines are showing an optimistic crossover. Histogram bars are also being formed above the mean line of increasing height, indicating that bulls are regaining momentum. RSI has shown a bullish crossover of the SMA line signaling an optimistic trend at the moment.&nbsp;</p> 
<p>The EMA analysis shows that the <a href="https://www.thecoinrepublic.com/2023/09/25/the-fxs-coin-about-to-break-above-consolidation-zone-what-now/" target="_blank" rel="noopener noreferrer nofollow">FXS price</a> witnessed a breakout of the 50-day EMA over the daily chart indicating that bulls have gained control in the short-term.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Frax Share is a stablecoin that is surging in price and volume. It is trading near its five-day high of $5.79 above the resistance level of $6.04. It has a bullish flag pattern on the daily chart, indicating a possible breakout and continuation of the uptrend.&nbsp;</p> 
<p>The volume-to-market-cap ratio is 4.42%, suggesting mild volatility.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $5.31 and $4.95</li> 
 <li><strong>Resistance Levels:</strong> $6.56 and $7.08</li> 
</ul> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Frax Share Price Gains 6% In Intraday, Time To Board The Trend?

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