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Argentina tanks fan icon despite the World Cup victory

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Argentina won the 2022 FIFA World Cup in Qatar after defeating France during a penalty shootout. However, despite being the first time that Argentina has won the title since 1986, the Argentine Football Association (ARG) fan token has not performed well, with the token dropping by 53% over the past 24 hours.

Argentina fan icon down 53%

Fan icons have exploded in popularity over the past year. These tokens tend to perform according to the performance of the broader cryptocurrency market. However, in some cases, the performance of the token depends on the performance of the respective teams. However, the recent victory of Argentina against France did not create bullish sentiment for ARG.

On December 18, Argentina achieved a historic victory over France during the final of the FIFA World Cup Qatar 2022. This is the first time that Argentina has won this title since 1986. The final match was also historic, as it may be the last time that Lionel Messi plays in one of the matches. World Cup finals.

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The match between Argentina and France ended in a penalty shootout, with Argentine players Dybala, Messi, Montiel and Paredes securing victory for their country. While the Argentine fans celebrated the victory, holders of the ARG fan symbol were left counting the losses.

Before the final match started, the ARG token was trading at around $6. However, it has lost more than half of its value since then and at the time of writing the token was trading at $2.82 according to Queen Gekko. In the past 24 hours, the coin has been trading between a range of $2.74 to $6.34, which indicates a significant increase in volatility. ARG’s trading volume in the last 24 hours is $5.85 million.

What happened?

The fan token was expected to pump ARG after Argentina’s victory, but that is no longer the case, as seen in the sharp downtrend recorded over the past day. One of the reasons behind this bearish sentiment may be the end of the FIFA World Cup hype.

Football fan tokens have recorded high trading volumes since the start of the World Cup. However, now that the sporting event is over, there is not much price action expected from these tokens. Therefore, this may have affected the ARG’s bullish selling pressure yesterday as traders dumped their expectations that the rally that had developed in the past few weeks might fade.

Furthermore, the broader cryptocurrency market remains bearish, and the gains made by ARG after the $6 level were set to be followed by a significant price correction. In the past 24 hours, little action has been observed in the broader market, with bitcoin and most altcoins trading in the red. The global cryptocurrency market capitalization is $840 billion, according to CoinGecko, after a slight decline in the past 24 hours.

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The direction the ARG Fan token takes from this point depends largely on how the broader market performs. However, with the World Cup over, volatility can drop significantly.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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