AC Milan fan token ACM jumps 43% following Inter Milan’s loss to Bologna.
Fan token performance linked to team success, with a Serie A win a boon for ACM token holders.
ACM and INTER are part of the Socios fan token platform that offers forty fan tokens of international football clubs.
European soccer has gone big on digital assets and Web3. Several leading football clubs in Europe have partnered with digital assets.
As the domestic football season nears its end, the title race is heating up, which is influencing the performance of fan tokens.
AC Milan Fan Token ACM Surges 43% After Going Top of the Table
On Wednesday, Inter Milan played Bologna to retain the top spot in Italy’s top flight, the Serie A.
The team’s fan token, INTER, was in positive territory following a third-minute goal. Two Bologna goals, however, left Inter Milan FC in the number two spot and sank the INTER fan token.
On Wednesday, Inter Milan’s fan token INTER slid by 10.12% to end the day at $6.253. INTER had hit a day high of $7.176 before the result-driven tumble.
By contrast, the AC Milan fan token ACM surged as fans responded to AC Milan going to the top of the Serie A with four games remaining.
Following a move to the top of the Serie A table, ACM jumped by 43% to end the day at $6.77.
ACM fell to a day low of $4.11 before rallying to a day high of $7.89.
For AC Milan, three wins and a draw will give them the Serie A title, a first since 2011.
In the final games of the season, AC Milan plays Florentina on Sunday and then Verona, Atalanta, and Sassuolo. All four teams are in the top 10 of the Serie A.
Inter Milan has an easier run, with matches against Udinese, Empoli, Cagliari, and Sampdoria. Udinese is the highest positioned team at twelve, with Cagliari sitting just above the relegation zone at number seventeen.
Juventus fans also responded to the Inter loss, with the JUVE fan token rallying by 7.71% on Wednesday. Juventus and Inter Milan play in the Coppa Italia final on Thursday, May 12.
Fan Tokens Under Socios Drive Fan Engagement in the ‘Beautiful Game’
ACM forms one of forty fan tokens of international clubs under Socios. The fan tokens give holders a say in a club’s decision-making, rewards, and access to exclusive fan token holder promotions, games, chats, and a chance to become a superfan.
Other teams under Socios include the English Premier League’s Manchester City, Arsenal and Everton, Paris Saint Germain, FC Barcelona, and even the Argentinian National Football team. According to Socios, an Italian national football team fan token will soon be available.
This morning, CoinGecko ranked Manchester City Fan Token first, with a market cap of $45.95m. INTER sat at number five, with ACM at number eight.
ACM Price Action
At the time of writing, ACM was up by 3.47% to $7.006.
ACM will need to avoid the $6.41 pivot to target the First Major Resistance Level at $8.25.
ACM would need the broader crypto market to support a return to $8.00.
An extended rally would test the Second Major Resistance Level at $9.72 and resistance at $10.00. The Third Major Resistance Level sits at $13.03.
A fall through the pivot would test the First Major Support Level at $4.94. Barring another extended sell-off, ACM should steer clear of sub-$4.00 levels. The Second Major Support Level sits at $3.10.
Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bullish signal. ACM sits above the 200-day EMA at $5.96. This morning, the 50-day narrowed on the 100-day EMA. The 100-day EMA narrowed to the 200-day EMA; ACM positive.
A bullish cross of the 50-day EMA through the 100-day EMA would bring $10.00 levels into view.
This article was originally posted on FX Empire