• Fartcoin is trading at $1.17, marking a gain of over 65%. 
• The daily trading volume has increased by 280%.

Crypto prices started the day on a recovery note, with the global market cap climbing to $3.3 trillion and Bitcoin approaching $95.8K. Leading assets mirrored the upward momentum, while Fartcoin led the gains with a notable 65.36% surge.

In the early hours, it traded at a low of $0.6795, and gradually it mounted to a high of $1.18. With a $1.18 billion market cap, Fartcoin trades at $1.17. Notably, the market has witnessed $8.27 million in Fartcoin liquidations over the past 24 hours. Also, the daily trading volume has reached $202 million.

The asset has gained nearly 91.56% in the past thirty days. It began trading at $0.6174 and hit a monthly high of $1.58. The momentum broke, and it fell to the current trading level. 

Is Fartcoin’s Uptrend Sustainable?

The four-hour trading window of Fartcoin exhibits steady bullish momentum. If the current uptrend stays, the asset’s price could rise and test the nearby resistance at the $1.21 level. With its potential to push higher toward $1.30 and even more, the asset can reach new highs, close to its ATH. 

On the other hand, if the selling pressure gains momentum, the coin’s price could break out toward the downside and fall to $1.12. If Fartcoin’s price fails to hold the $1.10 support, it might face a sharp decline, testing the $0.98 mark, and possibly pulling back to its former lows. 

In addition, Fartcoin’s technical analysis reports positive price action by inferring the Moving Average Convergence Divergence (MACD) line. It has crossed above the signal line, indicating a potential upward price movement could follow. Traders often take this as a signal to buy or take long positions.

The Chaikin Money Flow (CMF) indicator is settled at 0.06, suggesting a positive money flow and a moderate accumulation of buying pressure within the market. Meanwhile, Fartcoin’s daily trading volume has increased by over 280%.  

The asset’s daily relative strength index (RSI) at 61.66 infers that the asset is in a moderately strong bullish trend with buying pressure. Moreover, the daily frame reveals the short-term 9-day moving average above the long-term 21-day moving average.

Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Highlighted Crypto News

Italian Bank Intesa Sanpaolo Enters the Crypto Market with a Bitcoin Purchase