Quick Summary
- Current Price: 1.35 (1.45% intraday peak)
- Market Cap: 1.35 Billion
- Trading Volume Spurt: An increase of more than 46.27 percent to $393 million
- 7-Day Gain: More than 54.31%, minimal at 0.86 dollars, maximal at 1.48 dollars
- Technical Indicators: Bearish MACD, bullish CMF 0.15
- Short-Term Support: 1.28
- Resistance: 1.38 and 1.45
- Daily RSI: 58.05 (neutral-bullish area)
Fartcoin Stays Resilient During Dip In Market
Fartcoin, the memecoin that is trending, is trading at around $1.35 having spiked by 1.45% in the last 24 hours. As the rest of the crypto market has mysteriously fallen into the red, Fartcoin has been going against gravity, rising by 54.31% in the week, displaying strong investor enthusiasm.
The asset began the day at a minimum of $1.32 and reached a maximum of $1.50, indicating the potential of an asset short-term uptrend. Its market cap, however, is already at $1.35 billion, and its trading volume is $393 million, which is more than 46 percent higher than it was in the past day, according to CoinMarketCap.
Fartcoin chart (Source: TrachingView)
Is The Downtrend of Fartcoin Near?
Even after the recent gains technical indicators are flashing mixed signals. The MACD line has crossed under the signal line – a textbook bearish signal – and indicates that sellers are gaining the upper hand. The 4-hour chart reiterates this as it depicts a moving lower trend that could further force the price to challenge the support at $1.28.
In case the bears sustain the asset may experience a death cross, which will drag the prices down to the 1.20 realm.
Bullish Signs Still In Place
Nevertheless, Fartcoin bulls do not have to despair entirely. The Chaikin Money Flow (CMF) has a value of 0.15, which depicts a moderate bullish influence, and the money is still flowing into the asset. At the same time, the RSI is at 58.05, which indicates that the asset is in a neutral-to-bullish range, which is a sweet area to identify gains.
Moreover, the Bull Bear Power (BBP) value of Fartcoin is 0.0274, indicating a little bullish movement, which may serve as a trigger in the event of a breakout in case the resistance levels at 1.38 and 1.45 are broken.
Fartcoin chart (Source: TradingView)
So What’s Next Fartcoin?
These upcoming days may be critical to Fartcoin. Break above $1.38 can invite a golden cross which can take the price towards its recent peak of $1.50 or even higher. Nevertheless, traders must keep an eye on the $1.28 support area, a daily close below which would rule out the existing recovery.
Final Thoughts
Fartcoin is still enjoying the surge of market interest, supported by the high trading volume and positive signals of the bullish sentiment. However, pessimistic technical formations warn against being too bullish in estimates.
Traders should keep a close watch on the asset in the approach to major support and resistance levels in the upcoming sessions, and investors are recommended to do the same.