The Frontier ($FRONT) Defi token rallied 92% today. The digital asset displayed highly volatile price movement, climbing from $0.07, to a value above $1.
Defi aggregation layer protocol token, Frontier ($FRONT) rallied 92% today, 14th June. Displaying marked volatility, the %FONT/USDT market a daily high of $1,30, from a daily open of merely $0.07.
Finding supply at yesterday’s close of $0.07, the $FRONT token appears to have entered a period of renewed bullish price action, though it may be too soon to tell. The assets rallied well past the $0.09 resistance level, going on to smash a number of price ceilings before running out of steam near the key price level of $1.39.
$FRONT is down a tad, at time of writing, trading just about the $0.09 support level, if it manages a bounce of this newly established floor, then a strong challenge of $1.39 may be in play. Technicals currently do not offer clear greenlight, though they do signal the development of potentially bullish price action.
The Stochastic on the market’s daily chart tells of an impending rise, as moving averages currently sit in the oversold condition, and are pointed shortly upwards. This tells us that this market’s nexts moves are likely going to be aggressive and fast.
Only the Chikou, and Tenkan lines have begun to point upwards on the Ichimoku front. They’re both currently threatening to meet the Kijun, which will be a strong bullish signal. With Bitcoin price action currently looking as though the worst may be behind digital asset markets, Frontier may be setting up to retake it’s previous high of $2.25, following a dismal 91.32% drop over the past 11 days.
