Fartcoin Slips Below $0.40, Charts Point to $0.50 Target Ahead
Fartcoin is gaining renewed attention due to its current price structure following a corrective pullback. Analysts are focused on whether key support levels will hold or break. At the same time, repeating chart patterns are fueling discussion about a possible trend change.
At the time of writing, Fartcoin is trading at $0.3756, with a 24-hour trading volume of approximately $332 million. The token’s market capitalization stands at $373 million, while its price has declined 7.64% over the last 24 hours, reflecting short-term weakness.
Fartcoin Faces Resistance Amid Sideways Trend
Despite this correction, market analysts are paying close attention to the price chart of Fartcoin. Renowned cryptocurrency analyst CryptoPulse stated that it’s now trading in a sideways trend.
So, as long as Fartcoin stays below the resistance level of $0.50, it could decline further, with the $0.24 level being a key support zone should more selling momentum be added to the market.
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Fartcoin Shows Bullish Chart Pattern
In fact, not all indicators illustrate that the meme coin will go lower. Another market analyst nicknamed BATMAN emphasized the fact that Fartcoin is one of the only memecoins that still appears to remain strong in the market. In fact, the analyst pointed out the fact that the token has created a higher high.
Another interesting aspect of this chart is the presence of a repeating pattern in the technical analysis tools. The previous bottom was at about the 0.618 Fibonacci level, along with a bullish fair value gap, and it triggered an increase in the price. The same scenario is about to repeat itself at the $0.31 level.
With the advent of these technical requirements resurfacing once again, the coin may be close to an important area of the trade. If the support zone is sustained in the timeframe that follows, the token may make an attempt at going upwards once again in the days that come after that.
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