FIFA World Cup 2022: Which Football Fantoken To Invest In Before Quarter-Finals?

The FIFA round of 16 matches will end after its last two matches, i,e,(Morocco vs Spain) and (Portugal vs Switzerland). The two winning teams will advance and face each other in the quarter-finals. Since this game could bring significant volatility in Football Fantoken market, we’ll analyze the Portugal National Team Fan Token (POR) and Spain National Fan Token Price (SNFT) for near-term growth.

Benefits of Football Fantoken

The Fantokens are cryptocurrencies associated with different clubs, sports teams, and organizations, offering their holders several fan-based perks. Some of the rewards the token owners get are match tickets, VIP tickets, Fan merchandise, etc. Moreover, the holders also get voting rights for some official decision-making, like the design of dressing rooms, corner flag designs, picking goal anthems, etc.

Portugal National Team Fan Token (POR)

Source- Tradingview

The Portugal National Team Fan Token (POR) price is on a six-day losing streak, registering a 26% loss. Moreover, this downfall has just breached another support of $2.5, indicating the sellers are ready to take prices lower.

A daily candle closing below this support will keep the selling pressure intact and prolong the ongoing downfall. With sustained selling, the price may plunge another 15.5% to hit the $2 psychological support.

However, the Relative Strength Index indicator, which measures the speed and magnitude of an asset’s recent price, reflects an oversold signal. Thus, the RSI below the 20% mark signals overextended selling, which should encourage a minor relief rally.

Spain National Fan Token (SNFT)

Source- Tradingview

On December 2nd, the ongoing downtrend in Spain National Fan Token plunged the prices to a $0.085 low price. However, the football fan token went sideways immediately, trying to sustain above the newly obtained support. 

With the excitement of today’s match, the Spain fan token has bounced back from the mentioned support and shows a 5% intraday jump. The daily-RSI slope reverted from the oversold region also accentuated the buyers’ wresting for price control.

Thus, if buying continues, the SNFT price may rise 22% before hitting the near supply zone of $0.0116.

Conversely, a daily candle closing below $0.085 will continue the downward spiral.