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One of the most popular sporting events, the FIFA world cup, will be held in Qatar from 20th November to 18th December. Before the matches even began, some of the top team’s Fan tokens witnessed significant growth reflecting the impact of football fans during such events. Fan tokens are cryptocurrencies created to give fandoms of sports teams, bands, and other organizations a better experience with membership perks like voting rights on certain decisions, a variety of rewards, merchandise and etc.
Thus, for interest buyers today, we’ll analyze these Fan tokens for their potential growth.
Portugal National Team Fan Token (POR)
Despite a sloppy market condition, the Portugal National Team Fan Token price doubled within a fortnight. From local support of $3.3, the Fan token jumped 123% and reached a high of $7.35.
Moreover, this bullish reversal breached the $5.7 neckline resistance of the double bottom pattern. This bullish pattern is often located at the market bottom and offers a significant rise in market value. As per the technical setup, the potential target for this pattern is the same distance between the bottom support and neckline, shot from the breakout point.
Furthermore, the token price is currently in a retest phase, and an 11.83% intraday loss plunged it to the $5.8 mark. Thus, if the buyers sustain above the $5.7 mark, the post-retest rally could drive the price 37.5% higher to hit $8.
