FRAX just listed on Binance and it is already moving fast
On the 3 minute chart FRAX pumped from around 0.81 to 1.57 and is now pulling back near 1.30. This is normal for fresh listings because liquidity is thin and volatility is high.
My view is not automatically bullish just because it pumped. I want confirmation.
Bullish continuation if price holds 1.20 to 1.30 and then reclaims 1.40 to 1.45. If it breaks 1.57 again, another leg up is possible.
Caution if price keeps rejecting under 1.40. Bearish if it loses 1.20 because then 1.00 and the early low near 0.81 become the next support areas.
Fresh listing rule. Do not chase green candles. Wait for a clean retest or breakout.
FRAXUSDT
دائم
0.8391
-20.90%
Not financial advice. Manage risk.