Hey #BinanceFamily! Today weāre spotlighting FXS/USDTāthe Frax Share tokenāwhere signs of a long-term accumulation base are emerging, setting us up for a potential upward blast! Letās unpack why FXS might be gearing up for something big, Binance Square style. š§ š„
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š 1. Price & Long-Term Context
Current Price: Around $1.93ā$1.98 USDT, showing a slight dip (~0.3%) in the past 24 hours .
Historical Range: From its all-time high near $45.90 in JanāÆ2022 to a recent low of $0.35 in FebāÆ2025 .
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š§© 2. Technical Setup: Rounding Bottom & Descending Resistance
Analysts flagged a rounding bottom and a descending resistance line on the daily chart. A breakout above the neckline could trigger a steep climb toward key targetsā$4.10, then $4.93, $6.07, and $7.21 .
On shorter timeframes, FXS is rebounding off lower channel support and eyeing a break above the 100 MAāan early bullish signal .
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š 3. Market Sentiment & On-Chain Signals
Bear Flag Pressure: Some Square creators mentioned a breakout under $1.95, which could intensify short-term downtrendātriggering possible drops to $1.90ā$1.85 .
Bullish Reversal View: Others spotted support forming at $2.00, with momentum indicators (RSI, MACD) flipping positive. A breakout above $2.08ā$2.10 could mark the next rally phase .
So, Square Fam, weāre seeing a tug-of-war: base-building vs. bearish pressureāneither confirmed until we see a breakout.
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šÆ 4. Key Levels to Watch
šÆ Level Significance
$1.95ā$2.00 Critical support zoneāif broken, caution ā ļø
$2.08ā$2.10 Resistance breakout needed for bullish confirmation
$4.10+ Aggressive upside targets upon clear breakout
$3.30ā$3.50 Mid-range resistanceāwatch for pullbacks
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š 5. Creative Content Ideas for Square
Chart share: Overlay the rounding bottom, trendlines, and 100MA. Ask: āWill FXS hold above $2.00? Yay or nay?ā
Community poll:
Support or Resist? Put $2.10 breakout in the options!
Teach the pattern: Explain why a rounded bottom signals long-term accumulation.
Encourage discussion: Ask about sentimentāsome see bearish flags, others bullish volume.
āFam, which combo wins: base or bear flag?ā
Use Square tone: Friendly, š¬ emoji-rich, well-sourced (no hype), respectful debates.
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āØ Final Thoughts for the Square Fam
FXS is shaping up in a textbook accumulation patternārebounds off support, trendline bounces, and early on-chain structure building. The $2.08ā$2.10 breakout level is your key watch zone. A breakout above could spark the next leg toward $4+ targets, but holding above $1.95 in the short term is equally vital.
If you're planning a Square post, ping meāIād love to help you finesse the chart call-out and spark vibrant discussion! š