The FC Porto Fan Token ends a three-month-long wedge pattern on a bullish note with a breakout from the downsloping trendline. Thus, this bullish breakout triggers a directional rally offering growth potential in the near term. Moreover, this bull run pierced a horizontal resistance of $5.85, providing an entry opportunity for side-lined buyers.
Key Points:
The possible retest to the breached $5.85 resistance will validate whether the breakout is genuine.
A bullish crossover between the 20-and-50-day EMAs may attract more buyers in the market.
The 24-hour trading volume in the FC Porto Fan Token coin is $72.3 Million, indicating a 45% loss.
Source-Tradingview
Over the past three months, the FC Porto Fan Token price steadily fell under the influence of a falling wedge pattern. Furthermore, the several retests to the pattern’s downsloping trendline indicated the traders strictly followed the technical setup, which should significantly impact future prices.
Furthermore, the PORTO price
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