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Stafi Price Analysis: Stafi rallies 200 percent within 24 hours

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TL;DR Breakdown

  • Binance listed Stafi almost 3 months ago
  • Stafi price analysis witnessed a bullish retracement after coin shot to the moon by 200 percent
  • The FIS/USD set a daily high of $4.060
  • As of this writing, Stafi is trading $3.342 against the US dollar. 

Stafi Price Analysis: General price overview

Binance Exchange announced about its listing of Stafi almost three months ago on March 3rd. The listing took place on the Binance Innovative Zone, a platform dedicated to the launch of fresh cryptocurrency innovations that have high chances of shooting to the moon.  On the day, the liquidity staking protocol project saw its token amass a daily high of $4.747 and an time high of $4.850 on March 19th. 

Stafi Price Analysis: Stafi rallies 200 percent within 24 hours 1
Source: TradingView

The April crash that took place almost a month later saw the coin set a high low at $1.53 and subsequently a post-listing low of $0.640 in June. Today, on the 24 hour chart , Stafi price analysis witnessed a bullish retracement after coin shot to the moon by 200 percent to a daily high of $4.060. The coin came shot of the all time high by a decimal point. 

Stafi price movement in the last 24 hours: Bulls remarkably take over the FIS market

The past few days since the start of August have seen the price of Stafi (FIS) set higher daily lows above $2.00 against the US dollar. Meanwhile, the price has always come short from the $3 point after facing rejection along the $2 mark. However, the price of the decentralized protocol token witnessed a massive retracement that saw it beat both the $3 and $4 mark. According to our Stafi price analysis, we can therefore see the coin is trading extremely bullishly within a daily range of $1.86 – $4.060. 

The daily trading volume has increased by 639.25 percent in the last 24 hours to a whopping $1.039 billion. According to Coinmarket, the total market capitalization for Stafi (FIS) stands at $38 million, after witnessing an 89 percentage increase on the daily chart. 

Stafi price analysis
Source: TradingView

Stafi 1-hour price analysis: Growing bearish trendline

The 1-hour stafi price analysis chart indicates presence of growing bearish weaknesses. This signifies the entry of sellers around the $3.5 – $4.0 price zone. Theoretically, a group of sellers who might be flooding the bullish uptrend and locating a break-even price for their April-May losses. 

There are also many new buyers cashing in on the altcoin at this point, hence the strong tug war between the bulls and the bears. From an upside perspective, the biggest resistance lies at $3.75 while a strong support is building up near $3.00. 

As of this writing, Stafi is trading $3.342 against the US dollar. 

Stafi Price Analysis Conclusion 

The Stafi decentralized blockchain came into existence as a unique solution to the liquidity problem of staked assets. This project aims to unlock value on staking assets and solve the liquidity dilemma of staking. As such, more cryptocurrency enthusiasts are likely to move into the project and subsequently increase its valuation. 

Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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