FIFA fans are eagerly awaiting the Costa Rica v Spain match at 11 a.m. ET today. These matches can have a significant impact on the Fan token market and provide enough volatility for investors. Today we will analyze the Spain National Fan Token Chart, which reflects a well-known bullish pattern, the double.
The post FIFA World Cup 2022: Spain’s Victory Will Lead Fan Token ($SNFT) to $0.543 CoinGape was first to publish this article.

  

FIFA fans are eagerly awaiting the Costa Rica vs Spain match at 11 a.m. ET today. These matches could have a significant impact on the Fan token market and provide enough volatility for investors. Today we will analyze the Spain National Fan Token Chart, which reflects a well-known bullish pattern, the double bottom pattern.
The Key Points
The Spain National Fan Token chart shows bullish signs at $0.261
Bullish divergence on the daily-RSI chart can increase the chance of a bullish recovery.
The Spain National Fan Token coin’s 24-hour trading volume is $834,933, which represents a 98% gain.
Source-Tradingview
The Fan token market was volatile before the FIFA world Cup even began. One of the most popular Fan tokens, SNFT (Spain National Fan Token), saw a sideways price movement for the past three week.
During this consolidation, SNFT price retested horizontal levels of $0.543 & 0.261 twice, accentuating a range bound rally. The coin price has fallen from $0.543 to $0.26 over the past five days.
The daily chart however shows a longer-lower price rejection candle, which keeps the Spain National Fan Token’s price above the $0.35 support. This long-tail rejection is indicative of rising bullish momentum and a high probability for price reversal.
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A potential reversal from the support will result in a double bottom pattern on the daily time frame chart. This bullish reversal pattern is well-known for triggering a bull run when it breaks above its neckline resistance.
The Spain National Fan Token could rise to $0.5427 below the neckline if there is a bullish pattern. A breakout of this resistance on the upside will boost the price rally.

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Technical Indicator
Relative strength index: The daily-RSI slope indicates a bullish divergence. This supports a bullish reversal at the $0.26 support.
EMAs: The flattish EMAs (20 and 50) highlight a sideways trend that could stall rising prices at $0.41.
Intraday Price Levels for Spain National Fan Token
Spot price $0.355
Trend Sideways
Volatility is high
Resistance level: $0.41 and $0.48
Support level: $0.346 and $0.26

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The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

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