Fartcoin Breaks Wind and Resistance, Are More Gains Incoming After an 8% Surge?

• Fartcoin is trading at $1.64, marking a gain of over 8%
• Its daily trading volume has surged by more than 84%.

The crypto assets opened the trading day with the bears waving a red flag. The global market cap has slipped by over 1.39% to $3.9 trillion, and all major tokens have entered the bearish phase, with the largest assets, Bitcoin and Ethereum, trading on the downside. Meanwhile, Fartcoin has recorded a gain of over 8.48%.

In the early hours, with the bearish grip, the asset traded at a low of $1.50. After testing a series of resistance between $1.51 and $1.68 zones, Fartcoin has climbed to a high of $1.69. Further upside correction could send the price to new highs. Notably, with a $1.54 billion market cap, at press time, Fartcoin trades at around $1.64, as per CMC data.

Also, the market cap has reached $1.62 billion, with Fartcoin’s daily trading volume having surged by over 84.48%, touching $552 million. In addition, the market has experienced a liquidation of $6.79 million in Fartcoin over the last 24 hours, as per Coinglass data

What is Next for Fartcoin?

Fartcoin’s recent session’s price chart reports a bullish momentum. The asset’s price could likely move up to test the nearest $1.63 resistance. Upon a potent breakout beyond this level, the subsequent resistance might be found at the $1.70 range

Contrarily, assuming the bulls lost ground, the price of Fartcoin could immediately fall toward the support at the $1.52 level. With the potential of bears to push the price lower, the asset might plunge to its previous low at $1.45 or even lower

The technical analysis of Fartcoin demonstrates that the Moving Average Convergence Divergence (MACD) line has crossed over the signal line. It typically points to a bullish crossover in the market and is a potential buy signal. Moreover, the Chaikin Money Flow (CMF) indicator stationed at 0.08 hints at a moderate buying pressure, with the capital flowing into the asset, giving a bullish signal.

Furthermore, the daily Relative Strength Index (RSI) reading settled at 59.61, indicating that the asset is in the neutral to bullish zone, and it may gradually gain strength. Fartcoin’s Bull Bear Power (BBP) value of 0.1334 suggests that bulls are strong in the market. Also, the price momentum would continue to move up.

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