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FRAX SHARE [FXS]

 

Frax Share (FXS) has faced limitations under a descending resistance line since achieving a record high of around $50.4 in early 2022. After several tests of trendline resistance, FXS reached a low of approximately $5.46 in November 2023.

 

In the period leading up to the breakout, FXS’s weekly RSI indicator displayed a bullish divergence, signaling strengthening positive momentum. Now trading above resistance, analysts anticipate a potential 100% climb for FXS, challenging the next hurdle at approximately $20.16.

 

 

Breaking Long-Term Barriers: Chainlink’s Resilience

 

An in-depth analysis reveals that Chainlink (LINK) has been wrestling with a descending resistance line since June 2020, reaching a low of around $7.56 last June. Despite a brief dip below the $9.66 support, LINK quickly recovered and transformed the drop into a deviation.

 

In the face of another pullback, LINK seems poised for a second attempt to break the approximately $17.64 barrier. Successful breakthroughs could propel the token’s price by 100% to reach the next target of around $31.5. Additionally, LINK’s daily Relative Strength Index (RSI) remains above 50, indicating positive momentum and supporting further gains. These indicators collectively suggest a bullish trajectory for LINK compared to Bitcoin. However, failing to surpass the $17.64 resistance might trigger a 40% retreat back to support at approximately $9.24, introducing caution into the otherwise optimistic LINK outlook.

 

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