Has FunFair [FUN] Finally Faced the Bottom After 94% Decline?

2018-10-2 18:37

FunFair may have picked the wrong year to launch its cryptocurrency. The project which aims to revolutionize the gaming industry with blockchain technology released its cryptocurrency in January at a price of around $0.25. The project has sharply declined since then and is currently trading near $0.015, a 94% decline.

Some signs show the project may have faced the bottom but investors and speculators should remain cautious after the bear market we have seen this year. Some bullish signs include that it looks like the price is recording a higher low in both price and RSI. Recent declines have been below the 20-period average daily volume whereas some recent gains have been far above the average daily volume.

FunFair Daily Chart – Source: Tradingview.com

The project is still a new project, and those seeking to speculate on its price should also monitor the overall market. Altcoins have been following the market leaders Bitcoin movements for most of 2018 and FunFair is no different.

The key pattern to monitor at the moment in Bitcoin is the descending triangle pattern which has been forming since January. Some are forecasting a bullish breakout while others are forecasting a bearish breakout. Whichever occurs will likely be a good gauge for where the altcoin market is headed.

Bitcoin Descending Triangle Chart – Source: Tradingview.com Key Takeaways: Some signs show FunFair may be bottoming out with price and RSI forming higher lows. Investors and speculators should be cautious after the prolonged bear market we have been experiencing during 2018. Descending triangle pattern in Bitcoin should be closely monitored for future forecasts of altcoin market. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Has FunFair [FUN] Finally Faced the Bottom After 94% Decline? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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