The Juventus Fan Token ($JUV) recorded a strong increase in trading activity following the sacking of head coach Igor Tudor. As a result of this, the $JUV’s trading volume surged to $6,185,001, marking a 108.80% jump from the previous day.

The move came shortly after Juventus’ official announcement, which appears to have sparked fresh speculation among holders and traders.

$JUV Price and Technical Outlook Show Mixed Signals

Although trading activity surged remarkably, the token’s price showed a slight retracement by 1.56% to settle at $0.8609. However, the increased trading volume shows that despite the decline in price, investors remain confident in $JUV and are not moved by the short-term pullback.

$JUV’s market cap now stands at $10.44 million, supported by a circulating supply of 12 million tokens. The 24-hour trading volume of over $6 million shows that holders are actively repositioning amid the club’s uncertain phase.

From a technical perspective, analysts predict a potential rebound and correction with the 200-day simple moving average (SMA) to head towards $1.08 by late November whereas the 50-day SMA is expected to close near $0.90.These averages hint at a cautious market sentiment, with traders waiting for clearer signals of stability from both the club and the broader fan token market.

The Relative Strength Index (RSI), currently at 35.39, shows that $JUV is in a neutral zone, neither oversold nor overbought. This balance suggests that while traders are reacting to recent events, the token has not yet entered a period of panic selling or excessive optimism.

Juventus Confirms Tudor’s Exit and Interim Appointment

On the early hours of Monday, the Juventus board released a statement, announcing the departure of the club’s head coach Igor Tudor and his technical staff Ivan Javorčić, Tomislav Rogić, and Riccardo Lanić, following the club’s poor form since the start of the season.

In the statement, Juventus thanked them for their professionalism and effort. Before their match on October 30 against Udinese, Juventus announced that Massimiliano Brambilla would take the role of interim coach.

Juventus have not been faring well in the last couple of games, having recorded three consecutive defeats as well as eight winless matches. Standing at 8th in the Serie A and 25th in the Champions League, the club puts pressure on management to make changes. With 10 wins, 8 draws, and 6 losses, the 24 games managed by Tudor since March certainly illustrates the impact on the team morale and the $JUV token as the $JUV fan community continues to react to every shift in the club’s direction.

Ebo Victor

Fantoken Market Reporter