Fartcoin Eyes the $1 Mark, Will Bulls Deliver a Breakout?
- Fartcoin is currently trading around the $0.88 mark.
- The market has witnessed $4.13 million worth of Fartcoin liquidations.
Amid mixed sentiment, crypto assets fluctuated between gains and losses. Notably, they remain within the market’s fear zone. The largest asset, Bitcoin, is trading around $84.3K, while Fartcoin has recorded a 1.56% uptick.
In the early hours, Fartcoin traded at a range of $0.8664. After the brief bullish wave, the asset jumped to a high of $0.9586. At the time of writing, Fartcoin trades within the $0.8886 range with its market cap at $890 million.
Furthermore, the market has witnessed $4.13 million worth of Fartcoin liquidations, according to Coinglass data. Also, the daily trading volume of the asset has surged by 11.87% to $340 million.
Over the last seven days, Fartcoin has registered a gain of over 22.53%. The asset began trading the week at $0.6827 and hit a weekly high at around the $0.95 range. The price held at the $0.77 mark, not to slip below it.
Can Fartcoin Hold Strong, or Is a Drop Looming?
Fartcoin’s price trajectory exhibits a brief negative momentum. The asset might potentially drive the price lower to $0.8820. Assuming a persistent downside correction, the asset could test the crucial support at around $0.8704.
On the other hand, if the bulls took control of the asset, the price might likely ascend to the $0.8947 range. In case Fartcoin forms a golden cross, the price could steadily climb and retest the resistance around the $0.9040 mark.
The Moving Average Convergence Divergence (MACD) line of the asset has crossed below the signal line, indicating a bearish momentum. Additionally, Fartcoin’s Chaikin Money Flow (CMF) indicator, found at -0.14, suggests that the money is flowing out of the asset.
Moreover, the asset’s daily relative strength index (RSI) at 51.67 signals that the asset is in a neutral zone. The Bull Bear Power (BBP) value of 0.0224 infers a modest bullish dominance within the market.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Highlighted Crypto News
Raydium (RAY) Breaks Out with a 15% Gain, Eyes Set on New Highs
