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Frax Share (FXS): An Overview of Technical Analysis

Frax Share (FXS) is a cryptocurrency built on BTC standards and adheres to ERC-20 token standards, featuring 18 decimal points on the blockchain platform. The coin was created by a founding team led by Sam Kazemian, a co-founder of the Frax Protocol.

Derivatives Volume Surge

The Frax Share (FXS) token recently experienced a remarkable spike of 146.62% in its derivatives volume, accompanied by a 16.65% increase in open interest. The current open interest for FXS is $15.62 million, showcasing the growing interest in this cryptocurrency. Moreover, FXS is following a long/short ratio of 1.0329.

Market Cap and Spot Volume

The market cap of FXS has surged by 2.71%, reaching $410.65 million. Simultaneously, the spot volume has grown substantially, surging by 113.69%. These figures underscore the substantial interest and active trading within the Frax Share community.

Volume/Market Cap Ratio and Supply

FXS boasts a volume/market cap ratio of 4.23%. It has a circulating supply of 74.09 million FXS tokens, and a portion of 99.681 million FXS tokens.

Price Analysis and Potential for Growth

The price of FXS has been consolidating within a specific range and is showing signs of forming bullish candlesticks. Following a significant decline from higher levels, the coin appears to establish a base at lower levels, potentially indicative of an accumulation zone. This could pave the way for a potential price surge in the future.

However, it’s worth noting that the coin’s price currently trades below the Exponential Moving Averages (EMA), with lower highs suggesting that sellers hold sway in the market. The 50-day and 200-day EMAs intersect downward, signaling a bearish trend.

The Relative Strength Index (RSI) of the token is crossing above the 50-level, which, if it continues into overbought territory, could indicate a shift toward bullish momentum.

Frax Share Derivative Volume Analysis

Despite the increase in trading volume, there hasn’t been significant liquidation in the coin’s price, indicating that it hasn’t yet established a clear directional trend.

Frax Share is in a consolidation phase, marked by equal highs and lows. Although there’s been a notable uptick in volume, the RSI exhibits mild bullish to uncertain behavior, while the EMA remains bearish on the charts.

Conclusion and Technical Levels

In conclusion, the future of Frax Share (FXS) remains uncertain, with potential for both upward and downward movement. A breakout from the consolidation zone could lead to higher price levels, while failure to do so may result in continued volatility and potential declines.

Support Levels for FXS:

0.000156 BTC

$0.0002124 BTC

Resistance Levels for FXS:

$0.000280 BTC

$0.000351 BTC


Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.