Recent tugs of war in the crypto arena have seen one particular player, Frontier (FRONT), take a significant stumble. Over the past 48 hours, a 33.17% decline coupled with an additional 20% drop might have won the bears a round, yet a broader market push has clawed back some territory. Currently trading at $0.4023, FRONT is marking a minor 1.08% decline so far today.
Being fixed in this price trajectory crossroads means consolidation at these levels has become pivotal for FRONT. Analyzing technical indicators, the 20-day EMA for FRONT stands at $0.3225, dwarfing both the 50-day EMA ($0.2404) and 100-day EMA ($0.2050). Typically, bullish momentum is marked when short-term EMA leapfrogs the long-term EMA – a caveat though, considering the recent downward price trend, it pays for investors to beware and seek confirmation of an uptrend continuation.
The current RSI, at 58.49, gives room for potential movement in either direction, given FRONT is neither overbought nor oversold. Despite a decrease in the MACD histogram from 0.0258 to 0.0180, suggesting slowing bullish momentum, the bulls still have a grip on the FRONT price.
An interesting congruity in the market cap with a 2.09% increase to $36.1 million and a 24.18% decrease in the 24-hour trading volume finds a paradox in trading activity. The interplay may very well feed the recent price swings for FRONT.
Pivotal resistance and support levels also paint a detailed landscape for FRONT. Breaking resistance at $0.42 could signal a rally back to the uptrend. On this flip side, the immediate support level of $0.3560, retested with the intraday low of $0.3255, needs to hold steady to prevent a selloff towards $0.2648.
While the continuous upward race for FRONT has been checked by retracement, a potential consolidation could be a launchpad for another price surge. Regardless, careful observation on these key levels is paramount for traders in the coming days.
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Source: Cryptonews
