After reaching an all-time high, hitting 1400 satoshi on the 8th of January, Funfair corrected down to 500 satoshi where previous support was established. At the same time price has rejected the uptrend trendline, and although it seems that it went below, daily closing price remains above it.
While the 500 satoshi support and the uptrend trendline has been rejected, the RSI oscillator has formed a bullish divergence suggesting trend reversal. FUN/BTC then broke above the 200 Moving average and the downtrend trendline.
Currently, FunFair has corrected slightly down and traded at 670 satoshi, but the price remains very attractive as there are signs of an uptrend in place. Price could grow up to 1770 satoshi, that is 141.4% Fibonacci retracement of the corrective wave from the all-time high.
While the 500 satoshi support and the uptrend trendline has been rejected, the RSI oscillator has formed a bullish divergence suggesting trend reversal. FUN/BTC then broke above the 200 Moving average and the downtrend trendline.
Currently, FunFair has corrected slightly down and traded at 670 satoshi, but the price remains very attractive as there are signs of an uptrend in place. Price could grow up to 1770 satoshi, that is 141.4% Fibonacci retracement of the corrective wave from the all-time high.