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Beginning today (December 3rd), the FIFA World Cup matches will start the round of 16 stages, with the Netherlands and USA facing off. As a result, the football fan token market continues to expect high volatility and may offer trading opportunities as the associated team plays.
Today’s article will analyze the Top Fan tokens to predict their near-future value.
Argentine Football Association Fan Token(ARG)
Source-Tradingview
The Argentine Football Association Fan Token price shows the formation of a megaphone pattern in the daily time frame chart. This continuation pattern holds the capacity to release a direction rally once the price breaks either of its divergence trendlines.
Over the past five, the ARG price moving sideways above the combined support of $3.5 and support trendline. Moreover, on December 2nd, a long-tail rejection candle at these aforementioned support indicates the buyers are trying to defend these supports.
Moreover, a bullish divergence in the 4-hour RSI chart shows accentuates the indicates the increasing buying pressure at these lower levels. Thus, a potential support level could push the ARG price to 22.2% higher to reach the $4.6 mark.
On a contrary note, a daily candle closing below the support trendline will prolong the ongoing downfall.
Portugal National Team Fan Token(POR)
Source- Tradingview
On November 28th, the Portugal National Team Fan Token(POR) gave a massive breakdown from the $3.35-$3.3 monthly support. The post-retest rally plunged the prices 11% down to the current price of $2.9.
Earlier today, this Fan token traded in green and showcased a 6% jump. However, the increased selling pressure evaporates the entire gains, resulting 1.39% loss by press time. This higher price rejection indicates the sellers are aggressive at higher levels, and the POR price may continue to fall.
Thus, with sustained selling, a breakdown below $2.8 will intensify the selling momentum and drive the price $2.5 psychological mark.
Brazil National Football Team Fan Token(BFT)
Source- Tradingview
The Brazil National Football Team Fan Token price witnessed an aggressive downfall after its lost the last swing support of $4.5. From the breakdown point, the Fan token tumbled 55% within a week and plunged to its current price of $0.196.
However, today the BFT price is 4% up and trying to bounce back from $0.16 support with a high volume spike. Moreover, the daily RSI plunged into the oversold region, indicating the selling activity has overextended.
This development could trigger a minor relief rally to retest the $0.3 and $0.447 horizontal levels as potential resistance.
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