Fartcoin has seen a significant price recovery over the past three months. A notable uptrend is because it helped Meme Coin recoup many of the losses he experienced in January and February.
However, despite this recovery, Altcoin has yet to reach the new all-time high (ATH), and the path to achieving one remains uncertain.
The Moving Average Convergence Divergence (MACD) indicator shows that the bullish momentum that fueled Fartcoin’s recent rally could soon be short of steam.
After over three and a half months of upward trend, a bullish crossover is approaching its end, with a bearish crossover looking imminent. This shift in MACD can act as an inversion trigger, potentially leading to a lower price for Fartcoin.
This trend reversal has attracted attention, as the broader market situation does not seem to support the meme coin at this time. Investors and traders may begin to act on changing momentum.
On the macro scale, the Chaikin Money Flow (CMF) indicator shows signs of weakening. Currently, CMF is experiencing significant downticks, signaling outflows from Fartcoin.
This suggests investors are beginning to secure profits, and we expect the current price action to be at its peak.
These outflows reflect changes in emotions. Market participants seem to believe Fartcoin is at its peak for now. If this trend of spill continues, Fartcoin could face more sales pressure, leading to prices falling in the coming days.
Fartcoin prices require push
Fartcoin is currently trading at $1.38 and marks a three-month uptrend that will help Meme Coin recover many of its losses from January and February.
However, the recovery is not yet complete. To reach the new ATH, Fartcoin must break beyond the $2.74 level.
At this stage, Fartcoin is about 97% off the $2.74 ATH. New ATHs are still likely, but the above factors will likely lead to lower prices.
If Fartcoin loses its main support level of $1.20, the uptrend will be invalidated and the price could drop to $0.91.
However, if the market situation remains bullish and favorable, Fartcoin could break through the $1.54 resistance. Securing $2.00 in support is a strong signal. This suggests that the memecoin is on track to infringe and form new ATHs.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
