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Frontier Breakout Analysis – FRONT Pumps +49% in a Single Day with Active Uptrend
Frontier FRONT is trading in uptrend here like many other altcoins. The Cryptocurrency FRONT just went up +49% in a single day by breaking a Falling wedge pattern with strong buying volume and surges over +60% in a week.
What is Frontier?
Frontier is a Chain Agnostic DeFi Aggregation layer. Using Frontier, Users can Track and Manage DeFi positions, Stake Assets, Swap or Exchange Assets and explore more DeFi Applications in one single place. Frontier is also building Frontier chain, which is a Decentralised Key Management blockchain based on Cosmos SDK.
Frontier Quick Stats
| SYMBOL: | FRONT |
| Global rank: | 563 |
| Market cap: | $13,882,001 AUD |
| Current price: | $0.5937 AUD |
| All time high price: | $1.11 AUD |
| 1 day: | +49.38% |
| 7 day: | +60.96% |
| 1 year: | +105.73% |
FRONT Price Analysis
At the time of writing, FRONT is ranked 563rd cryptocurrency globally and the current price is $0.5937 AUD. This is a +60.96% increase since 7th January 2021 (7 days ago) as shown in the chart below.
After looking at the above 4-hour candle chart, we can clearly see that FRONT was trading inside the falling wedge pattern on the FRONT/BUSD pair. The first resistance was on the $0.3874 AUD price levels which FRONT broke with a strong bullish trend buying volume and is now heading towards the next monthly high prices. Seeing that many altcoins are waking up bullish this week, FRONT is likely to continue to increase in the uptrend.
“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”
What do the Technical indicators say?
The FRONT TradingView indicators (on the 1 day) mainly indicate FRONT as a strong buy, except the Oscillators which indicate FRONT as a buy.
So Why did FRONT Breakout?
The recent rise in Bitcoin over +300% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying FRONT for the next Altcoins rally & it could also be contributed to some of the recent news of Frontier Prize Pool.
Recent FRONT News & Events:
- 17 September 2020 – MXC Listing
- 23 September 2020 – FatBTC Listing
- 31 October 2020 – Bilaxy Listing
- 12 January 2021 – Frontier Prize Pool
Where to Buy or Trade FRONT?
The Frontier FRONT has the highest liquidity on Binance Exchange so that would help for trading FRONT/ETH or FRONT/BUSD pairs. However, you can also buy FRONT from different exchanges listed on Coinmarketcap.
Author
Malik Junaid
Malik is a skilled writer with a background in Software Engineering. His interests are blockchain, cryptocurrency trading and market analysis.
