Oversold RSI Sets 20% Jump In Argentina Football Fan Token

Since the beginning of the FIFA world cup, Football Fan tokens have experienced an aggressive correction phase. However, the volatility and volume have also increased, offering trading opportunities with the benefits of Fan token. Currently, the FIFA matches are in full swing, and the token associated with top teams could provide substantial growth.

Key Points:

• The Argentine Football Association Fan Token price could witness an 18-24.5% relief rally.
• The daily-RSI slope approaching the oversold region will support a bullish reversal.
• The 24-hour trading volume in the Argentine Football Association Fan Token coin is $5.08 Million, indicating an 11.75% gain.

Source- DigitalCoinPrice

Amid the recent correction in the fan token market, The Argentine Football Association Fan Token witnessed a significant downfall. As a result, the token price dropped from $8.8 resistance to its current price of $3.63, registering an 8.5% loss within a fortnight.

Furthermore, this sharp fall breached an important accumulation zone of $4.51-$4.26 on November 27th, encouraging further loss in the near term. However, the fan token showcase a 3.6% intraday loss with reduce volume activity. 

This lesser volume suggests the exhaustion of bearish momentum, indicating an upcoming reversal. Thus, the potential recovery may retest the breached support to check for price sustainability.

Therefore, the ARG holds below $4.26, a prolonged downfall could lead the price to $3.

Anyhow if buyers push the fan token above $4.5, the bearish thesis will get invalidated.

Benefits of Argentine Football Association Fan Token(ARG)

The Socia app(creator of Fan tokens) launched the Argentine Football Association Fan Token in collaboration with the Argentine Football Association. The Fan token could allow Argentina supporters to have richer relations with the national team.

Some of the rewards the token holders could experience are voting right in official polls that impact the team, choosing goal anthems, designs for dressing rooms, match prediction games with exciting rewards, free match tickets, etc.

Technical Indicator

RSI: the daily-RSI slope on the verge of entering the oversold regions indicates the traders have overextended from sellers, which could lead to increasing bullish momentum.

EMAs: the increasing gap between the 20 and 50-day EMA accentuates an established downtrend in ARG token.

ARG intraday price levels

• Spot price: $3.66
• Trend: Down
• Volatility: Low
• Resistance level- $4.26 and $5
• Support level- $3 and $2.8

From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.