5 Cryptocurrency Fan Tokens To Look Out For
- The global crypto market cap is estimated to be $1.19 trillion at press time.
- Crypto fan tokens experienced a wave of sell volume recently.
- Investors can watch out for ALPINE, BAR, OG, CITY, and PSG.
The global crypto market cap has seen a 1.10% increase in the last 24 hours, according to CoinMarketCap, with the total market cap estimated to be $1.19 trillion at press time. Many crypto fan tokens have been hit by a wave of sell volume, which could present a great opportunity for investors to buy some of the more popular fan tokens.
1. Alpine F1 Team Fan Token (ALPINE)
ALPINE has seen a 24-hour price decrease of 18.1%, with the fan token trading at $3.58 at press time. Last week, the token’s price peaked at $5.8792, although it has since retracted below the key $3.8952 level.
Weekly chart for ALPINE/USDT (Source: TradingView)
Traders and investors may want to wait for the altcoin’s price to close a daily session above the $3.8952 level before entering into a long position for the crypto. A close above this level will see the altcoin’s price climb to the next key level at $5.1141, although it may be best to ladder into a buy position for ALPINE due to the short amount of time that it has been in the market.
Once ALPINE’s price closes a daily session above the next key level at $5.1141, then traders should complete the laddering in a move by injecting the remaining capital allocated for the trade, as ALPINE’s price will then have a clear path to $8.0397.
2. FC Barcelona Fan Token (BAR)
BAR has experienced a 24-hour loss of around 10.72%, with the fan token trading at $4.29 at press time. The 9-week EMA line is looking to cross bullishly above the 20-week EMA line, which could see BAR’s price break above the closest resistance level at $4.54 before attempting to do the same with the level at $5.11.
Weekly chart for BAR/USDT (Source: TradingView)
Should the altcoin’s price successfully break above these two levels, then its next target will be around $6.74. An early confirmation of this bullish thesis will be when the 9-week EMA line crosses above the 20-week EMA line. Therefore, it may be best for traders and investors to wait for this technical flag before entering into a long position for the altcoin.
On the other hand, a BAR price closing below the 9-week EMA line in the next 2 weeks will likely force the altcoin’s price down to the support level at around $3.29.
3. OG Fan Token (OG)
OG’s price is down by 22.2%, trading at $9.43 at press time. Last week, the fan token’s price surged to reach a high of $15.307, before retracing to close last week at $10.643.
Weekly chart for OG/USDT (Source: TradingView)
The 9-week EMA line has crossed and continues to trade above the 20-week EMA line, which is a significant bullish technical flag indicating that OG’s price will continue to rise in the next 2-3 weeks. Validation of this bullish thesis will be if OG’s price closes this week’s trading session above the key $8.895 level.
Should this happen, OG’s price will look to rise to $12.173 in the coming weeks.
4. Manchester City Fan Token (CITY)
CITY’s price is trading at $5.30 at press time, down 3.39%. The 9-week EMA line has crossed above the 20-week EMA line, which is a significant technical flag. If CITY’s price can close above the current resistance level at around $5.46 before the end of this week, then the fan token’s price will look to break through $6.07 in the coming weeks before climbing to $6.94.
Weekly chart for CITY/USDT (Source: TradingView)
If CITY’s price can close above $6.94 within the next month, then it has a clear path to $8.77. On the other hand, if CITY’s price dips below the 9 and 20-week EMA lines before the end of the week, then the bullish thesis will be invalidated, and the fan token’s price will consolidate between $3.98 and $5.46 for the next month.
5. Paris Saint-Germain Fan Token (PSG)
PSG’s price is down 7.94%, currently trading at $5.50. The 9-week EMA is currently holding the fan token’s price down, but once it closes a weekly session above $6.67, then traders should look to long the altcoin, as its next target will be $9.54.
Weekly chart for PSG/USDT (Source: TradingView)
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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