Taking a little break due to serious drops in the buying volume, Fartcoin traded calm this month as it maintained sideways movement over the past days. Looking bullish, it is gathering momentum for another rally.
Nothing much has changed since our previous analysis due to a serious drop in volatility. Although, Fartcoin’s bullish trajectory remains intact on the daily chart but has subjected trading to a sideways movement.
The next direction of the market looks dicey on the daily chart, but adjusting to the 4-hour chart, things are looking a bit positive as it recently established support above the $1 level. Aside from the, it has formed a double-bottom pattern, indicating a potential buy.
If this pattern comes into play in the coming days, we can expect more bullish actions to take place. Such a move could skyrocket the price massively to a new high after breaking through the monthly resistance.
However, dropping off the mentioned holding support may result in a serious price breakdown until the market finds a solid ground for a rebound. Failure to stay above the yearly low may lead to a massive crash in the future. As of now, the bulls are still in control.
FARTCOIN’s Key Levels to Watch
Anticipating a fresh increase, the $1.47 level is a key resistance to watch for a breakup. If that happens, the next resistance level to keep in mind for a test is $2 before reclaiming the $2.74 level – the yearly high.
Losing the holding $1 support level could slip us back to the $0.95 support before rebounding. The lower support levels to keep in mind are $0.645 and $0.355 in case of more drawdowns.
Key Resistance Levels: $1.47, $2, $2.74
Key Support Levels: $0.95, $0.645, $0.355
- Price: $1.29
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
No Comments