FXS/BUSD ($8 Key Resistance Area)💎Technical Analysis Summary💎
FXS/BUSD
-After the breakout and retest last August 18th
-The price rallied up by 88% profit
-If FXS will continue strong in the coming days
-Then next key resistance level is 8 dollar
-This zone is also a confluence of resistance Fib 0.5
-Be careful because this is not a good area to buy
-The risk to reward ratio is no longer in your favor
-It is better to wait for any consolidation or pullback
-Also, BTC is retesting its previous resistance area at 48k
-Pullback is not yet over for Bitcoin so be cautious everyone
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FXSBTC
FXS/BTCFXS/BTC has gaining speed , and bullish momentum . Supported by a rising Uptrend, Bullish Divergence and price pattern.
FXSBTC: breaking resistance"What Is the Frax Protocol (FRAX)?
The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum (with possible cross chain implementations in the future). The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC. The protocol incorporates the following concepts:
Fractional-Algorithmic – Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The ratio of collateralized and algorithmic depends on the market's pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.
Decentralized & Governance-minimized – Community governed and emphasizing a highly autonomous, algorithmic approach with no active management.
Fully on-chain oracles – Frax v1 uses Uniswap (ETH, USDT, USDC time-weighted average prices) and Chainlink (USD price) oracles.
Two Tokens – FRAX is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) is the governance token which accrues fees, seigniorage revenue, and excess collateral value.
Before Frax, stablecoins were divided into three different categories: fiat collateralized, overcollateralized with cryptocurrency, and algorithmic with no collateral. Frax is the first kind of decentralized stablecoin to classify itself as fractional-algorithmic ushering in the 4th and most unique category.
How Many FRAX and FXS Coins Are There in Circulation?
The supply of the FRAX stablecoin is dynamic and always changing to keep the price at $1 due to its fractional-algorithmic monetary policy. The supply of the Frax Shares (FXS) tokens are hard capped to 100 million tokens at genesis with no inflation schedule in the protocol. The FXS token is the governance token which accrues all value of new minted FRAX, fees, and excess collateral. FXS is an investment and governance asset while FRAX is the currency token.
What Makes Frax Unique?
The Frax Protocol is a community driven and unique design stablecoin. Over 60% of the supply of FXS is issued over a number of years to liquidity providers and yield farmers. It is an entirely decentralized protocol with governance onchain. It is also the first and only stablecoin to incorporate the fractional-algorithmic hybrid design at the time of its launch in November 2020.
Who Are the Founders of the Frax Protocol?
The Frax Protocol is the brainchild of American software developer Sam Kazemian who came up with the first idea of a fractional-algorithmic stablecoin in 2019.
The founding team of Frax engineers includes Travis Moore and Jason Huan. Sam Kazemian originally devised the idea when he noticed that stablecoins were growing rapidly but none had any mixture of algorithmic monetary policy and collateralization. Projects that had purely algorithmic monetary policy had failed or shut down without any significant traction. Frax was designed as an answer to measure the market’s confidence in a partly algorithmic and partly collateralized stablecoin.
Where Can I Buy or Obtain FRAX and FXS?
FRAX, the stablecoin, is available on many major exchanges and DeFi platforms like Uniswap and DEXes. The Frax Shares (FXS) tokens are also available and as liquid as the stablecoin. Investors looking to purchase upside and governance rights to the world’s first fractional-algorithmic stablecoin should buy Frax Shares (FXS). Users who want stability by using the world’s only fractional-algorithmic stablecoin should purchase FRAX." source cmc
Frax Share FXSBTC going long“FXS before you Go Go!” Yep… this $70M Market Cap coin of 100M max supply, is about to breakout from a 50D EMA. If it successfully breaks out it could have a 100% potential gain from 1300 sats to 2600 sats.
While there’s nothing impossible in them world of Crypto as a fundamental news could drive FXS north instantly, this trade could take longer than normal to materialize as FXS needs first to breakout, retest then head north.
But what do you think?
My Trading Explained! Frax Share (FXS) | Let's Try Again!The chart we shared for Frax Share (FXSBTC) went bust... Ouch!
But this is no big deal, this is normal...
Some we win, some we lose... Wait, it is a bit more complex than that.
We need to use a stop-loss and also have a well-developed plan before trading.
(To increase potential wins and reduce potential loss)
If one of our trades fails, we lose 10%, 20%, or maybe even up to 30% but, when our trades do good we go for 50%, 100%, 300%, and even 400/500%+ on some trades.
(This takes time, some trades can take up to 6-8 months to fully develop, patience is key)
RISK/REWARD.
We go for low risk with high potential reward.
Now, FXSBTC went down and closed below support. This is negative but can also be a plus.
Yesterday, we had a reversal candle show up.
Today, prices are starting to grow strong.
With high volume and the RSI curving up, this can turn into a strong move and we see FXSBTC reverse from bearish (down) to bullish (up).
Even with the information you just read above, make sure to do your own research before trading, study, take your time, diversify... Just as we can win, there can also be loss.
This is not financial advice.
Thanks a lot for your support.
Namaste.
My Trading Explained! Frax Share (FXS) | Let's Try Again!The chart we shared for Frax Share (FXSBTC) went bust... Ouch!
But this is no big deal, this is normal...
Some we win, some we lose... Wait, it is a bit more complex than that.
We need to use a stop-loss and also have a well-developed plan before trading.
(To increase potential wins and reduce potential loss)
If one of our trades fails, we lose 10%, 20%, or maybe even up to 30% but, when our trades do good we go for 50%, 100%, 300%, and even 400/500%+ on some trades.
(This takes time, some trades can take up to 6-8 months to fully develop, patience is key)
RISK/REWARD.
We go for low risk with high potential reward.
Now, FXSBTC went down and closed below support. This is negative but can also be a plus.
Yesterday, we had a reversal candle show up.
Today, prices are starting to grow strong.
With high volume and the RSI curving up, this can turn into a strong move and we see FXSBTC reverse from bearish (down) to bullish (up).
Even with the information you just read above, make sure to do your own research before trading, study, take your time, diversify... Just as we can win, there can also be loss.
This is not financial advice.
Thanks a lot for your support.
Namaste.
FXSBUSD reached at buy levels! its a bit speculative, no one knows how market would react but as long as we set our stop loss, we can take a risk to catch the bottom and enjoy the ride.
if FXS team push it a bit harder and get USDT pair on binance we might see more volume pumps into FXS, having said that UBSD pair looks very good with massive potential!! at the very least we might see FXS pay a visit to its recent high(100%+++)
FXSBUSD LONG POSITIONnow in this chart i see Triangle pattern.
and i spect the price reach this target (14$) in 1 mount.
FXS/BTC bullish TA Update and 300% potential form here#FXS/BTC TA Update :-
#FXS currently trading at 1285 Satoshi
And also trading above strong support level.
So I am buying here some #FXS
Entry:- 1250-1290 Satoshi
Targets:- 1761/2635/3263/ Moon Sat
Stop loss:- if any 6/8 hours candle close below 1200 Satoshi then Strictly close your position.
Support:- 1250 satoshi
Resistance:- 1761/2635/3263 Satoshi
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Must follow me for latest crypto real time updates.
Thank you.
Frax Share (FXS) Overview + ChartWhat Is the Frax Protocol (FRAX)?
The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum (with possible cross chain implementations in the future). The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC. The protocol incorporates the following concepts:
Fractional-Algorithmic – Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The ratio of collateralized and algorithmic depends on the market's pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.
Decentralized & Governance-minimized – Community governed and emphasizing a highly autonomous, algorithmic approach with no active management.
Fully on-chain oracles – Frax v1 uses Uniswap (ETH, USDT, USDC time-weighted average prices) and Chainlink (USD price) oracles.
Two Tokens – FRAX is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) is the governance token which accrues fees, seigniorage revenue, and excess collateral value.
Before Frax, stablecoins were divided into three different categories: fiat collateralized, overcollateralized with cryptocurrency, and algorithmic with no collateral. Frax is the first kind of decentralized stablecoin to classify itself as fractional-algorithmic ushering in the 4th and most unique category.
Source: Coinmarketcap.com
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This one is looking good now and hasn't move compared to other altcoins.
We can see prices moving just now above EMA10 and some higher lows since February.
There is room for higher prices.
See the chart.
This is not financial advice.
Namaste.
