Elliott Wave Analysis: Signs of Fartcoin (FART) Starting to Weaken?
Jakarta, Pintu News – Fartcoin (FART) appears to have reached a tipping point after completing a potential Elliott Wave structure. The token’s recent price action suggests a shift in market dynamics, and traders are now closely watching for signs of a larger corrective move.
Check out the full analysis below!
Key Technical Points
Fartcoin’s recent uptrend structure resembles the completion of Elliott Wave 5, with each subwave clearly visible. Usually, after a structure like this, the market transitions into a corrective phase, often in the form of an ABC pattern or a more complex ABCD pattern.
Rejection near $1.15, with multiple failed attempts to close above $1.30, signals strong supply and bearish sentiment at the level.
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Bearish Block Order Analysis
The $1.30 region has now formed what appears to be a bearish order block on the daily chart. Historically, this level has been a zone of aggressive selling pressure, and the price has once again failed to hold above it. The lack of volume or momentum that follows suggests that the strength of buyers in the market is starting to weaken.
Looking at the broader time frame, Fartcoin may be embarking on an ABCD macro correction. If this happens, it could take several weeks or even months to fully develop. However, the implications are significant, it could mean a revisit to the previous low or even the formation of a new low.
Also read: 5 Memecoins that rise when the market crashes in April 2025, FART is one of them?
Price Development Prospects
Given the current technicals, Fartcoin appears to be entering a period of reassessment. A decline from this region would confirm the formation of a macro lower high and validate the start of a deeper retracement.
Price action needs to break the $1.30 resistance with conviction or confirm the rejection by forming a lower high below it.
If the bulls fail to convincingly reclaim the level, traders may start targeting the $0.90-$1.00 support range as a first stop, with the potential for further downside extending to the previous swing low.
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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. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- Crypto News. Has Fartcoin Run Out of Gas? Elliott Wave Analysis Suggests Yes. Accessed on April 28, 2025
- Featured Image: CCN
