Fartcoin is on the rise, will it break $1?

Jakarta, Pintu News – The popular memecoin, Fartcoin (FARTCOIN), experienced a 22% drop in two days, but managed to bounce back from its April 18 low of $0.717. With a bullish market structure on the daily and four-hour charts, Fartcoin shows further upside potential.

Introduction: Fartcoin Market Dynamics

Although Fartcoin (FARTCOIN) experienced a significant price drop, the coin managed to recover value quickly. In March, Fartcoin managed to cross resistance at $0.62 and now seems to have confirmed $0.72 as support. The zone between $0.72 to $0.8 was previously an important resistance in early February, but is now potentially a strong support.

Data from Coinalyze shows that the Funding Rate has remained negative throughout this month, despite Fartcoin recording a notable price increase. This shows the bearish sentiment still present in the market. However, the latest price increase was accompanied by an increase in the Funding Rate, signaling bullish speculative activity.

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Technical Analysis: Fartcoin’s Bullish Structure

On the daily chart, Fartcoin is showing a bullish market structure. After successfully crossing the previous resistance, the coin is now trying to hold the support at $0.72. If successful, this could be a strong basis for further gains towards $0.8 or higher.

On April 18, there was a huge spike in Open Interest (OI) as the price dropped from $0.78 to $0.73. This indicated an intense bearish sentiment on that day. However, the price recovery that occurred in the last 24 hours suggests a change in sentiment that may continue.

Market Sentiment and Price Predictions

Although the negative Funding Rate indicates caution among traders, Fartcoin’s recent price rise might attract more bullish speculations. The $0.72 to $0.8 zone will be key to determining the next direction of Fartcoin. If the coin can maintain this support, there is potential to attempt to break $1.

It is important to monitor trading volumes and other market activities to get a clearer picture of Fartcoin’s potential. Traders and investors should observe if there is increased buying interest that could support further price increases.

Conclusion: Fartcoin Outlook

With a currently bullish market structure and recovery from a sharp price drop, Fartcoin is showing signs of further upside potential. Although there is some remaining bearish sentiment, increased speculative activity and strong support at $0.72 could be positive indicators for the future of Fartcoin.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Fartcoin shows promise, is the memecoin poised to test $1 next? Accessed on April 21, 2025
• Featured Image: CCN