- Fartcoin’s price falls 9.14% to $0.8335, nearing the critical 200 EMA support level.
- MACD reflects intense bearish momentum, driving Fartcoin’s recent price decline.
- Daily trading volume drops 31.81% to $162.64M, reflecting reduced market activity.
Fartcoin fell by -9.18 percent in its market cap of 833.49 million and ended the 24-hour period at 0.8335 USD. The meme coin on the Solana network has slumped by 27.75 percent in the last 7 days, and that too with bearish power. Trading volume also fell by 31.81 percent, to 162.64 million, during this time.
The burst in price to below 0.80 also occurred on high volume and quelled the speculators of further price declines. The last technical-most crucial one, the 200-day Exponential Moving Average (EMA) is about to collapse with Fartcoin trying to break this crucial hangout.
Bearish Momentum Dominates, But Rebound Possible
Technical indicators paint a grim picture for Fartcoin. An increasingly negative situation is indicated by the MACD (Moving Average Convergence Divergence), which darkens the red histogram.
However, the Relative Strength Index (RSI) of 21.35 portrays the oversold situation, which indicates that a relief rally is possible. At 0.90-1.00, traders are observing an important place of resistance for any bounce-up. The market figures suggest that if it collapses, the prices would fall to about 0.645 or even lower.
The retail trading activity can be observed alongside a bigger crypto sell-off, with both of the prominent tokens, Bitcoin and Ethereum, currently experiencing a bit of a sell-off as well, according to CoinMarketCap. The latest fissure in Fartcoin has been listed on the Binance.US, where the trading volume creation goes up to 373.2 million, but the profits are taken excessively, and this action is compounded by the fact that bullish interest was low to take over the current drop.
An upcoming death cross, where the 50-day and 200-day EMAs may cross below one another, also indicates heavy bearish accretion. If this trend unfolds, then buyers must reclaim the resistance area at 1.20 to prevent Fartcoin from recording extended downtrends.
Despite the downturn, whale activity persists. One of the biggest wallets recently sold 2.18 million FARTCOIN at a rate of 2.3 million and earned 251,000 dollars. This may mean that the big position holders are playing on the volatility, thereby aggravating the prices.
Meme tokens like PEPE and SPX6900, which are part of the meme coin sector, have also been experiencing a strong decline due to geopolitical shocks and whale outflows. The aspect that Fartcoin survived the support level of $080 will play a decisive role in the short-term time frame.
The traders are also exercising caution because some believe that the dip is the buying point, and some argue that the dip has a lot more to lose. The next few days will be decisive for Fartcoin to observe how it will get through this shaky market.