Santos FC Fan Token has lost 5.3% of its value over the past 24 hours. At the time of writing, SANTOS was trading at $12, according to data from CoinGecko. The token has been on a bearish streak, as seen in the 22% decline over the past two weeks.
Can SANTOS hit $20?
SANTOS has traded between $11 to $12, indicating low volatility in the token. During the past 24 hours, SANTOS has reported trading volumes of $22.23 million, according to CoinGecko, showing a significant interest in the token from buyers.
SANTOS currently ranks as the 393 largest cryptocurrency with a market cap of $51.58 billion, making it one of the low cap cryptos that have the potential to explode to higher levels.
SANTOS reached an all-time high of $22 on September 25, and if the bulls can ignite another rally as the one seen that month, SANTOS will break past $20 and go higher.
SANTOS Price chart
The Relative Strength Index (RSI) shows that SANTOS is not enjoying much support from buyers. The RSI index stands at 49, which indicates some level of neutrality between the buyers and the sellers.
With the slight dips seen during the past 24 hours, it seems like the bears are gaining control of the market, and they could trigger another dip that will take SANTOS to $10. Intense selling pressure will cause drops to $8.
It is unlikely that a rally to $20 will happen soon because of the lack of buyer support. The overall cryptocurrency market is yet to record any significant gains, which could strain SANTOS’ attempt to rally to higher levels.
SANTOS is a fan token. Fan tokens have exploded in popularity over the past year because they allow fans to interact with their teams better. Fan tokens offer immense utility to the holders, which could explain why most have reported increased interest from crypto investors.
The Santos Fan Token was launched through a partnership with the Santos soccer team and Binance Launchpool. The token targets fans of the Santos FC Brazilian soccer club situated in Sao Paulo. It is one of the most successful clubs in the country, and it boasts a massive fan base. Therefore, if these fans translate to SANTOS buyers, it could mean long-term gains for SANTOS.
On the other hand, the cooling down in the broader cryptocurrency market is attracting crypto traders into altcoins. As a fan token, SANTOS could be among the top choices for investors as they seek to tap into its utility.
IMPT presale takes off
While SANTOS makes for one of the best cryptos to invest in, you could also look into other tokens, such as IMPT, to diversify your portfolio. IMPT makes for one of the best tokens to buy for ESG-conscious investors. The IMPT.io project was launched to lower carbon emissions and support a green future.
As a green crypto, IMPT is already attracting much interest, as seen in its presale, which is exploding as buyers rush to be early investors in the project. The presale has already raised more than $5.92 billion. The price will increase during the next stages, giving early investors an advantage.
IMPT - New Eco Friendly Crypto
- Carbon Offsetting Crypto & NFT Project
- Industry Partnerships, Public Team
- Listed on LBank, Uniswap
- Upcoming Listings - Bitmart Dec 28, Gate.io Jan 1st