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

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. 

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. 

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. 

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.