The Fan tokens have seen volatility in the last few days, despite the ongoing FIFA matches. Although the main benefit of these tokens is to improve the relationship between fans and their clubs and organizations, some football enthusiasts may also be able to profit from the current volatility by trading profitable shares. Today, we
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The Fan tokens have seen volatility in the last few days, despite the ongoing FIFA matches. Although the main benefit of these tokens is to improve the relationship between fans and their clubs and organizations, some football fans could also benefit from the current volatility to make profitable trades.
Today, we will examine some of the most popular fan tokens associated to the famous football club.
AC Milan Fan Token(ACM)
The AC Milan fan token has been in a steady decline for the past three month under the influence of a falling channel structure. The price action has repeatedly retested the downsloping trendslines, which indicates that traders are actively following this pattern.
This bullish continuation pattern should lead to a significant bull market once the price breaks through the resistance trendline. A bullish divergence of the daily RSI reflects the increase in underlying bullishness and increases the likelihood of a trendline breakout.
This breakout could offer a target price of $3.5 in the near-term, and 37.5% gains.
However, the channel pattern should result in a price rally to the initial swing peak. The peak target for this channel pattern could lead to prices reaching the $5.3 mark.
FC Porto Fan Token (PORTO)
The crypto market’s rising bearish sentiment caused a significant correction in fan token prices in the short term. The rising FC Porto fan token prices were praised from $6 psychological resistance and plummeted to $4.18 support within the last five days.
The V-top reversal saw a 31% drop and plunged PORTO to $4.3. The altcoin is vulnerable to further losses of 20% if it continues to sell.
The temporary decline in PORTO prices is reflected in the volume that has decreased during this downfall. The rising support trendline could replenish bullish momentum and start a new bull market. A bullish reversal is also possible if there is a bullish divergence on the daily RSI chart.
This could result in PORTO prices reaching $5.2.
AS Roma Fan Token(ASR)
The AS Roma fan token price follows a parallel channel pattern to the ACM price. This pattern caused a 62% drop in the price to $2 from the $5.5 mark.
The ASR price also experienced a bearish reversal of the trendline’s falling trendline on November 19. This plunge caused prices to plummet by 16.5% to $2.48 at the moment. If the selling continues, Fan tokens will fall below the swing low of $2 and retest support trendline.
However, interested investors who are looking for an entry opportunity need to wait for a breakout above this resistance trendline. In favorable conditions, this breakout could see the ACM price reach $5.5
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