The Fartcoin price has dropped by 8% in the last 24 hours, trading at $1.70 following a 22% decline in trading volume to $525 million.
Current Situation Analysis
On the 4-hour chart, Fartcoin previously formed a rounding bottom pattern, allowing it to rise above the $1.56 resistance. However, the price has sharply retraced to around $1.70. According to GeckoTerminal data, it appears to be testing the previous resistance level turned support at $1.56. Holding this level could indicate a continuation of the bullish trend. The price is also above both the 50-period and 200-period Simple Moving Averages (SMAs), suggesting potential bullish moves. The Relative Strength Index (RSI) is at 49.36, indicating neutral market momentum. With the RSI cooling off from overbought levels, there is room for another possible bullish move.
Targets for $2.5 Level
The Fartcoin price is at a critical junction, with $1.56 acting as strong support. Holding this support could lead to a rebound towards $2.00-$2.20, with a potential to retest the $2.50 level. A breakdown below $1.56 may lead to further declines, with the 200-period SMA around $1.14 as the next major support.
$2.7 Million Raised for Meme Index
Meme Index (MEMEX) has reached a significant milestone, raising over $2.7 million during its ongoing presale phase. The platform offers four investment baskets—Titan, Moonshot, MidCap, and Frenzy—catering to various investor profiles. Each basket includes popular tokens as well as high-risk, emerging coins.
The Fartcoin price is in a volatile phase, but the potential for recovery remains substantial through technical factors and analysis data.
