The crypto known as FRONT’s price has recently experienced a sharp retracement, halting its continued uptrend of the past two weeks.
Frontier (FRONT) saw a significant 33.17% decline yesterday, which was further exacerbated by an additional nearly 20% drop today. However, a broader market uptrend has helped FRONT recover, and it’s now trading at $0.4023, representing a slightly more modest 1.08% decline so far today.
As FRONT seeks to stem this downward price trajectory, consolidation at the current levels appears crucial.
Front Price Prediction and Technical Analysis
In terms of technical indicators, the 20-day EMA for the FRONT price currently stands at $0.3225, well above both the 50-day EMA of $0.2404 and the 100-day EMA of $0.2050.
In most circumstances, bullish momentum is signaled when the short-term EMA crosses above the long-term EMA. However, considering the recent downward trend in prices, it’s advisable for investors to exercise caution and seek additional confirmation of a possible continuation of an uptrend.
The RSI currently stands at 58.49, slightly down from yesterday’s 58.86. This indicates that FRONT is in neither overbought nor oversold territory, leaving room for potential movement in either direction.
MACD, Volume, and Market Cap Insights
The MACD histogram is positive at 0.0180, although it has decreased from yesterday’s 0.0258. While this suggests a potential slowing of bullish momentum, the overall positive value indicates that the bulls do still have some control over the FRONT price.
In terms of volume and market cap, the market cap has increased by 2.09% to $36.1 million, while the 24-hour trading volume has decreased by 24.18% to $112.3 million. This suggests a slight decrease in trading activity for FRONT, which may be a factor in the recent price fluctuations.
Key Front Price Resistance and Support Levels
The FRONT price is currently facing resistance at the Fib 0.5 level of $0.42. A break above this level could signal a potential return to the uptrend and provide an opportunity for bullish investors.
On the other hand, the immediate support level is the Fib 0.618 level of $0.3560. This was retested earlier today when the FRONT price set an intraday low of $0.3255. If this level does not hold, we could see a continued selloff towards the next support level at the Fib 0.786 level of $0.2648.
Given the current technical indicators, the FRONT price appears to be at a crossroads. While the uptrend has been significantly hindered by the recent retracement, a potential consolidation at the current levels could provide a base for further price appreciation.
However, investors should remain cautious, as a break of the immediate support level could result in further price declines. As such, keeping a close eye on these key levels and observing the movement of the broader market could be important in the coming days.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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