- Fartcoin is trading around the $1.35 mark.
- Daily trading volume is up by over 46%.
The crypto assets traded on the downside. Despite following the recovery pace, the market cap has slipped by 1.79% to $3.39 trillion. The assets, like Bitcoin (BTC) and Ethereum (ETH), have fallen back to their recent lows, trapped in the bearish grip. All major assets are charted in red, while in the last 24 hours, Fartcoin has registered a spike of over 1.45%.
Notably, the asset kicked off the day trading at a low of around $1.32. The gradual entry of the brief bullish hold has triggered the price to rise to a high of $1.50. As per CMC data, with a $1.35 billion market cap, Fartcoin currently hovers at $1.35. The daily trading volume has surged by over 46.27%, reaching $393 million. In addition, the market has experienced $6.37 million in Fartcoin liquidations.
Notably, in the last seven days, Fartcoin has gained by over 54.31%. The asset’s weekly low was marked at the $0.86 range, and eventually, the bullish command has pushed it to a high of $1.48.
Will Fartcoin Continue Its Downtrend?
The technical indicator analysis of Fartcoin exhibits that the Moving Average Convergence Divergence (MACD) line has crossed below the signal line. This crossover typically indicates a bearish momentum, and the selling pressure may be increasing. Moreover, the Chaikin Money Flow (CMF) indicator found at 0.15 suggests that the money is flowing into the asset, with moderate bullish pressure in the market, supporting the uptrend.
The asset’s four-hour trading pattern reports the downside price trajectory. The price could drop and immediately test the support range at around $1.28. If the Fartcoin price potentially falls, a death cross might likely emerge, and it will push toward its former lower level at the $1.20 mark.
On the upside, assuming the Fartcoin bulls gain momentum, the price might climb toward the recent high at the $1.38 resistance. Upon breaking this mark, the next resistance might follow within the $1.45 range. An extended correction on the upside could invite the golden cross to support the price movement.
Furthermore, the daily relative strength index (RSI) is found at 58.05, placing the asset within the neutral-to-bullish zone. Traders typically view this as a healthy uptrend with potential for more gains. Fartcoin’s Bull Bear Power (BBP) value of 0.0274 signals slight bullish strength in the market, showing early signs of upward pressure.
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