In Q2 2025, the cryptocurrency market showed steady growth; however, new tariffs introduced by US President Donald Trump have shaken the market once again. As a result, major cryptocurrencies are under pressure.
Negative Impact of Tariffs on the Market
The cryptocurrency market kicked off Q3 with a steady upside, yet the fresh tariffs imposed by the US president have negatively affected trader sentiments. Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are down nearly 1% today, while memecoins are also feeling the pinch.
Technical Analysis of Fartcoin
Fartcoin (FARTCOIN) has dropped over 6% in the last 24 hours, with its technical chart indicating a potential shift in short-term trend. The 4-hour chart showed FARTCOIN moving within a rising wedge, a well-known bearish reversal pattern. Today’s drop resulted in strong rejection near the $1.16 level, triggering a bearish breakdown signal.
Prospects for Fartcoin in the Near Future
FARTCOIN is currently testing a key support zone around $1.07, aligning with the 100-period moving average on the 4H timeframe. A bounce from here could lead to a retest of the broken wedge support. Conversely, if FARTCOIN breaks below this $1.07 support, it would likely confirm the breakdown, increasing the odds of further declines.
The cryptocurrency market continues to face pressure from external factors such as tariffs, impacting trader sentiment. The future movements of Fartcoin depend on the stability of key support levels.
