- FUN recently broke out of a multi-week descending channel, ending a prolonged downtrend.
- Price is consolidating in a narrow range after the breakout, indicating a retest phase.
- Chart projections suggest a potential upside of about 145% from the breakout point.
After an extended downtrend, FunFair (FUN/USDT) recently completed a breakout from a prolonged falling wedge pattern on the 4-hour chart. The move followed weeks of lower highs and lows, culminating in a conclusive breakout above the declining resistance line. Price action has since gone into retest mode, with the $0.0099–$0.0100 region as the short-term support. The level was once a base while consolidating and now plays a very critical function in maintaining the shape of the breakout.
The initial breakout posted a clean higher move, as the price reached intraday highs near $0.0126 before it retreated. The advance was a more than 10% advance in the last session, as reflected in the 4-hour action. Volume activity also increased during the breakout, which indicates committed participation at the time of the higher move. But the market has cooled down since, with the focus now on confirming the breakout by remaining above the previous resistance-turned-support channel.
FUN Consolidates in Narrow Range After Breakout
The breakout invalidated the multi-week descending channel, which had contained price since mid-July. The upper boundary of this channel was breached alongside rising momentum, pushing FUN into the retest zone.
The price is now trading between $0.0099 support and short-term resistance level of $0.0110. This range has remained intact over recent sessions, with multiple tests on both ends. A measured move projection from the wedge pattern points to a potential target near $0.0250, representing a gain of approximately 145% from the breakout point.
Broader Setup Aligns With Previous Support Reaction
Earlier in August, a similar price reaction occurred after touching the lower trendline support. That bounce initiated the early stages of the wedge breakout. It is particularly important that the recent retest is in the same horizontal zone marked in the previous trade, which strengthens its significance. Consolidation beyond this point maintains breakout structure. Market participants continue to monitor whether the support holds, as it remains the base from which further price movement could develop.
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