$FRAX 📈
$FRAX /USDT: Massive Breakout and Bullish Reversal! 🚀
The Frax (FRAX) chart is showing a powerful explosive move today following its recent rebranding and mainnet swap on Binance. The price has surged over 13% in the last 24 hours, reclaiming key levels after a long period of consolidation.
📊 Technical Analysis
* Current Price: 0.9218 USDT (+13.35%)
* Trend: Bullish Reversal. The price has printed a massive green candle on the 4H chart, breaking above the EMA(7) and EMA(25).
* RSI (6): 74.02 (Strong Momentum). While approaching overbought territory, the sharp angle suggests buyers are in full control and FOMO is kicking in.
* Support: 0.8779 USDT (EMA 25) and 0.8372 USDT (EMA 7).
* Resistance: Immediate resistance at 0.9300. A break above this level could lead to a rapid move toward the $1.00 - $1.02 psychological zone.
🎯 Trade Setup
* 🟢 Entry Zone: 0.880 – 0.910 USDT (Look for entries on a retest of the breakout level).
* 🎯 Target 1: 0.960 USDT (Recent local peak).
* 🎯 Target 2: 1.020 USDT (Major psychological resistance).
* 🛑 Stop Loss: Below 0.850 USDT (To protect against a false breakout).
💡 Summary for Square
"The king of DeFi stablecoin ecosystems is waking up! 🚀
$FRAX has just completed its mainnet swap on Binance and the market is reacting with extreme bullishness. After holding a solid base, we are seeing a high-volume breakout. With the ecosystem expanding through Fraxtal (L2), this could be the start of a much larger trend. Stay disciplined and watch those support levels! 🐢💨"
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