These are the top 3 tokens that can surprise us at the FIFA World Cup

over 1 year ago

These digital fan tokens have increased despite the crash in the cryptocurrency market, up 170% since November 10. The World Cup, which will take place in Qatar from November 20 to December 18, is the main reason for this boom. Fan Token is a cryptocurrency that allows fans to participate and participate in the decision making of their favorite team. In addition, they create new sponsorship opportunities for sports clubs and national teams outside of traditional sources of income. Below is a brief overview of the top winners in the token industry, along with their technical insight during the championship.

(SNFT) Spanish Soccer Team

It was the biggest gainer in the sports token industry, rising 170% to a high of $0.54 on November 19, nine days after a low of $0.20.

SNFT's better performance compared to other fan cryptocurrencies may reflect a higher probability of the Spanish soccer team winning the 2022 World Cup. But in the traditional sense, Spain has +800 chance of winning the trophy, which means that a bet of $100 will pay out $800.

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Technically, SNFT is trading in neutral territory with its daily RSI confirming around 58, which is below the 70 overbought mark. In other words, SNFT shows the potential to continue growing during the World Cup and the price should reflect the performance of the Spanish soccer team.

For example, back-to-back wins from Spain could push SNFT's valuation above current resistance at $0.538, potentially rising to an all-time high near $0.718, as seen on the four-hour chart below.

(BFT) Brazilian soccer team

The Brazilian Soccer Team Fan Token (BFT) seems to be the second most popular token on the cryptocurrency market. Its price rose 130% in just nine days, from $0.45 on November 10 to over $1 on November 19. Brazil is the favorite for this year's World Cup and the traditional odds are +350, which means that a $100 wager will return $350. This may become a significant factor in the growth of BFT. The coin still has room to move based on its daily neutral RSI in the coming weeks. As of November 19, BFT is expected to break above the current resistance of $1.05 to reach a short-term bullish target of around $1.16. If Brazil wins the World Cup on December 18, there could be a long-term rally, paving the way to $1.31, 25% above current prices. Conversely, on a pullback, BFT could look for the October 2022 support at $0.82.

(POR) Selection of Portugal

The Portugal National Team Fan Token (POR) is the third best performing fan token boom, rising nearly 100% to $6 on November 19, nine days after hitting a low of $3.10.

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Traditional sportsbooks have Portugal win the World Cup at +1600, which means that a $100 bet will return around $1600. POR is now testing resistance at $6 and its daily RSI is close to 64, just 6 pips below the overbought mark. A decisive break from the quoted price top could see POR's eyeball correct to $4.80, its September-October 2022 support. Conversely, Portugal's World Cup success could reverse the trend. bullish, allowing the POR to break the $6 resistance and rally to $7 or higher.