While the cryptocurrency market is down, FARTCOIN may be poised for a comeback. An emerging technical signal suggests that the meme token could be ready to bounce back. Here's what you need to know.
The cryptocurrency market is facing a sharp correction, with Bitcoin (BTC) retreating to $110,000 after a recent peak of $117,000, while Ethereum (ETH) has dropped 5% today to reach $4,400. This downward pressure has hit major memecoins hard, and Fartcoin (FARTCOIN) has suffered the steepest decline, falling 14% over the past 24 hours.
Interestingly, however, FARTCOIN’s chart now shows a potentially bullish signal. Accumulation Phase: FARTCOIN has consolidated for weeks in a narrow zone between $1.65 (resistance) and $0.89 (support). This sideways action likely indicated quiet accumulation by larger investors, with volatility remaining low.
Manipulation Phase: Earlier today, FARTCOIN plunged sharply below the $0.89 support, reaching approximately $0.75. This sudden movement appears to be a classic stop-hunt or fakeout, designed to shake out weak hands and trap short sellers a key characteristic of the manipulation phase.
Currently, FARTCOIN is attempting to stabilize around the $0.72 zone. If buyers manage to push the price back above $0.89 or reclaim the 200-day moving average at $0.90, this could kickstart the expansion phase the most bullish stage of the Power of 3 structure.
A breakout above the $1.00 level would strengthen the bullish scenario and potentially fuel a rally toward $1.65, representing a 105% gain from current levels. However, if the $0.72 support breaks decisively, it could delay or invalidate the bounce scenario, leaving FARTCOIN vulnerable to further declines.
In conclusion, FARTCOIN is showing signs of a possible recovery after a period of consolidation and manipulation. Investors should closely monitor the key levels mentioned to assess FARTCOIN’s continued bullish potential.
Currently, Fartcoin is trading around $0.79. To consider a short-term bullish recovery, it would be relevant to monitor the resistance at $1.12. If this resistance is broken, the memecoin could potentially increase by 27 to 45% in the coming days.
Here’s how to easily buy the memecoin on Bitget:
On the same topic:
Passionate about cryptocurrencies since 2019, I cover the latest news through clear and accessible articles. My goal is to make crypto understandable for everyone, with reliable and well-researched content.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
