FUNToken (FUN) Price Explodes 25% in 24 Hours! Is a Breakout to $0.008 Imminent?

FUNToken price jumps 25% in 24 hours amid bullish sentiment and upcoming updates—analysts eye a potential breakout to $0.008 soon.
By Dipayan Mitra
FUNToken (FUN) Price Explodes 25% in 24 Hours! Is a Breakout to $0.008 Imminent?

Highlights

  • FUNToken price surges 25% in 24 hours, nearing key resistance at $0.005.
  • Technical indicators signal bullish momentum with strong buying pressure.
  • Upcoming major update teased by FUNToken could trigger next rally.

The crypto market altogether has remained somewhat dormant over the past few days, as most major cryptos didn’t show signs of much volatility. While others catch their breath, FUNToken (FUN) price took the baton and skyrocketed. To be precise, the token’s price surged by over 25% in the last 24 hours. 

With this push, the token’s price was about to test a crucial resistance, and a breakout above that level could result in a jump towards $0.008 in the coming days. Ergo, let’s take a closer look at FUN’s current state to see the likelihood of it reaching its target. 

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Assessing FUNToken price’s recent surge

FUNToken price grabbed investors’ attention with its daily rise. Thanks to this, FUN is once again trading above $0.0041 with a market capitalization of more than $45.2 million. This recent price uptick brings the token’s price closer to a critical resistance of $0.005. 

The good news is that while FUN’s price surged, its weighted sentiment also increased and moved into the positive zone. This clearly suggested that bullish sentiment around the token is rising. Additionally, its social dominance remained pretty stable, signaling consistent social engagement. 

FUN's weighted sentiment graph
Source: Santiment
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What technical analysis suggests

As per FUNToken’s 4-hour chart, the token got rejected near its short-term resistance of $0.0043. However, investors shouldn’t be disheartened, as FUN might soon break above it and move towards $0.005, as suggested by technical indicators. 

For instance, the MACD displayed a clear bullish upper hand in the market. On top of that, the Chaikin Money Flow (CMF) also had a value of 0.27 at the time of writing. This meant that buying pressure on the token was high. Generally, whenever buying pressure increases, it results in a continued price hike. 

Therefore, the chances of FUN targeting $0.005 next are high. In case of a jump above the level, investors might soon witness FUN moving towards $0.008 in the coming days or weeks. 

FUN 4 hour chart
Source: TradingView

Rest aside, FUNToken also has a trick up its sleeve, which might act as a catalyst in fueling the token’s next bull market rally. FUNToken’s official X handle recently posted a tweet, hinting about an upcoming major development. As the company reveals the development in the coming days, it might help increase positive sentiment around FUN, and in turn, propel its price upward. 

In Conclusion

With strong bullish signals, growing investor sentiment, and hints of a major upcoming development, FUNToken price appears poised for further gains. If buying pressure sustains and resistance levels are broken, $0.005 may just be the beginning. All eyes are now on FUN as it inches closer to the $0.008 mark.

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Frequently Asked Questions (FAQs)

1. What is the current FUNToken price after the recent surge?

FUNToken price jumped over 25% in 24 hours and is now trading above $0.0041.

2. What technical indicators support a further FUNToken rally?

Indicators like MACD and CMF suggest strong buying pressure and potential for further price increases.

3. Is there any upcoming news that could affect FUNToken's price?

Yes, FUNToken recently hinted at a major development, which may act as a bullish catalyst.
Dipayan Mitra
Dipayan is a full-time journalist and editor working in the Web3 domain. He has over 4 years of experience in the media industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. Technical analysis and assessing market trends is what he specializes in. His work has been featured on popular crypto platforms like AMBCrypto.
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