$FRAX Candle Structures:
Large Green Marubozu: Multiple 1-hour candles show strong buying pressure with very little "wick" at the top, indicating buyers are in control.
The "De-peg" Spike: For the FRAX stablecoin, the candle chart shows an unusual spike. $1.33 followed by a quick reversion toward $1.00. This often indicates a "short squeeze" or a sudden burst of liquidity in decentralized pools.
Support/Resistance: FXS is finding immediate support at $1.28 and facing resistance at the psychological $1.80 level.
Technical Indicators
RSI (Relative Strength Index): Currently around 72, signaling the asset is entering "Overbought" territory on the 4-hour timeframe.
Volume: Massive spike in volume ($32M+ for FRAX), which is 10x higher than its weekly average.
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