The Frax Protocol is the first fractional-algorithmic stablecoin system. Its FXS governance token analysis is straightforward: an impulse wave followed by corrective wave which seems ended at 0.618 Fibonacci retracement. Then price consolidated in a box for a long time and finally breaks upward. Let's see if FXS can breaks the major downtrend line.
Comment:
FXS broke the major downtrend line.
FXS broke the major downtrend line.
So, FXS is still trying to break the major downtrend line. Let's see what happens.