FunFair Breakout Analysis – Parabolic Breakout on FUN with +101% Gains in a Week

FunFair is trading in uptrend here like many other altcoins. The Cryptocurrency FUN just went up +41% in a single day by breaking a Ascending triangle with strong buying volume and surges over +101% in a week.

What is FUN?

FunFair (FUN) was built on the Ethereum network by a team based in London and founded by iGaming veterans Jeremy Longley, Oliver Hopton, and technology entrepreneur Jez San OBE. FunFair is a blockchain-based platform that aims to provide low cost, high quality, transparent casino experiences that are ‘Guaranteed Fair’.

FUN Quick Stats

SYMBOL:	FUN
Global rank:	163
Market cap:	$61,724,242 AUD
Current price:	$0.0095 AUD
All time high price:	$0.4384 AUD
1 day:	+41.74%
7 day:	+101.98%
1 year:	+122.16%

FUN Price Analysis

At the time of writing, FUN is ranked 163rd cryptocurrency globally and the current price is $0.0095 AUD. This is a +101.98% increase since 26th December 2020 (7 days ago) as shown in the chart below.

In the past week, there was a strong rise in Bitcoin, Ethereum, and other Altcoins. As a result, FunFair (FUN) also formed strong support near $0.0058 AUD before starting a fresh increase against the FUN/BTC Pair.

If we see the above 4-hour candle chart, FUN is forming an Ascending Triangle pattern and is now currently trading at $0.0095 AUD after a successful breakout today. The next resistance is on the $0.0118 AUD price levels which can be broken any time soon if FUN keeps trading in the uptrend with strong buying volume.

“An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns.”

The FunFair TradingView indicators (on the 1 day) mainly indicate FUN as a buy, except the Oscillators which indicate FUN as a neutral.

So Why did FUN Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up FUN to their portfolio for the next Altcoins rally. It could also be contributed to some of the recent news of CasinoFair Promotion.

Recent FUN News & Events:

• 20 October 2020 – Bitfinex Delisting
• 22 November 2020 – Q4 Update
• 26 December – AMA Session

Where to Buy or Trade FUN?

FunFair has the highest liquidity on Binance Exchange so that would help for trading FUN/USDT or FUN/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.