Price Position and Structural State
Frax Finance (FRAX) closed at 0.3929 USDT on May 29, 2026, up 1.05%. The asset now sits in a sideways structure near the bottom of its 55-day range. Current 55-day support is near 0.3794 USDT, with resistance near 0.5427 USDT. A daily close below 0.3794 USDT would confirm a downside regime shift. A hold near support would keep price inside the range.
Moving Averages and Trend Context
FRAX is trading below all key moving averages. MA9 at 0.41 USDT stands as the first moving-average resistance area to watch. Price sits 12.47% below MA50, within its historical distance range of -31.77% to 12.11%. The moving-average structure is bearish without showing extreme downside extension.
Trading Friction and Price Efficiency
FRAX shows high trading friction, with a 3-day friction score of 33.1. The score combines price progress, wick rejection, and volume confirmation. Recent candles show contested movement, with weak price progress or heavier wick rejection. In this condition, moves near support or resistance carry less weight until price closes more cleanly.
Open Interest, Funding, and Positioning
Open interest fell -2.65% in one day and remains near the lower side of its 30-day range. This shows participation is weak and exposure is still being reduced.
Funding is positive on the 24-hour average at +0.002747%, with the 7-day average also positive at +0.004203%. This shows sustained long-side cost pressure across both short and medium windows.
The long/short ratio is 2.04, sitting near the lower side of its 30-day range at 7.76%. This means long accounts still dominate, but the long tilt is weaker than usual compared with recent history.
Correlation, Beta, and Index Relationship
FRAX shows a moderate relationship with the broader crypto market (Sigloid Index). Correlation indicates partial co-movement with the index, while R² suggests that index behavior explains only part of its movement. This means broader market direction has some influence, but asset-specific factors remain important. Over the 30-day window, the relationship is strengthening. Over the 60-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.76 | 1.164 | 0.578 | Strong linkage |
| 60D | 0.317 | 0.515 | 0.1 | Moderate linkage |
| 180D | — | — | — | Not enough data |
Momentum, Volatility, and Indicator Pressure
FRAX's bands are opening, but the move still lacks full support. Bollinger Band width% reads 30.74, close to the top of its 30-day range. ATR% reads 5.27, below its full historical range. 20-day Volume Z-score is -0.57, showing slightly below-normal participation.
Momentum is weaker. RSI is 34.90, ROC14 is -11.05%, and MACD histogram is negative. These readings point in the same direction: downside pressure is active, while recovery pressure remains limited.
The read is cautious: downside momentum is active, but volatility and participation do not confirm a strong break yet.
Broader Market Regime
The Sigloid Index remains in a sideways regime, showing no clear broad market direction. FRAX has a moderate link to that market condition, so broader market moves can influence price behavior, but the effect is not consistent.
Key Levels for the Next State Change
For FRAX, the next structural shift depends on range boundaries. A daily close above 55-day resistance at 0.5427 USDT establishes a bullish regime, while a daily close below 55-day support at 0.3794 USDT confirms a bearish regime.