Frax Share (FXS) Overview + ChartWhat Is the Frax Protocol (FRAX)?
The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum (with possible cross chain implementations in the future). The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC. The protocol incorporates the following concepts:
Fractional-Algorithmic – Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The ratio of collateralized and algorithmic depends on the market's pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.
Decentralized & Governance-minimized – Community governed and emphasizing a highly autonomous, algorithmic approach with no active management.
Fully on-chain oracles – Frax v1 uses Uniswap (ETH, USDT, USDC time-weighted average prices) and Chainlink (USD price) oracles.
Two Tokens – FRAX is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) is the governance token which accrues fees, seigniorage revenue, and excess collateral value.
Before Frax, stablecoins were divided into three different categories: fiat collateralized, overcollateralized with cryptocurrency, and algorithmic with no collateral. Frax is the first kind of decentralized stablecoin to classify itself as fractional-algorithmic ushering in the 4th and most unique category.
Source: Coinmarketcap.com
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This one is looking good now and hasn't move compared to other altcoins.
We can see prices moving just now above EMA10 and some higher lows since February.
There is room for higher prices.
See the chart.
This is not financial advice.
Namaste.
Fxs
FXSBUSD (FRAX SHARE) - BUY ENTRY ANALYSIS 🔎
- FXSBUSD brokeout above the double bottom (DB) neckline resistance (NR).
- The market hit a swing high and retraced.
- Price is retesting the neckline resistance (flip horizontal support) and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There is a relatively high concentration of buyers at the retest zone (High buying pressure).
- The retracement is resisted by the descending trendline resistance (DTR).
- A breakout above the descending trendline resistance (DTR) could be a bullish signal.
BUY ENTRY ⬆️
- Conservative entry : breakout above the descending trendline resistance (DTR).
- Aggressive entry : market price.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- ATH (All-time high) resistance.
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.
FXS BTCPotential ascending triangle in play, break below trendline would invalid pattern
Watch for break of bearish divergence on the 4 hour
FXS/BUSDpump coming for this coin . TC is good and FM is good . big pump coming for moon . its dip now and people cant see what is future . they buy it when it is on the moon . and we will sell it when it is on the moon :)))
