- FARTCOIN dips 20.92% in 24 hours, trading at $0.9312, a 60.17% weekly loss after peaking at $2.61 on January 20.
- Breaking below $1, FARTCOIN nears support at $0.95 and $0.91, with resistance at $1 and $1.25; further downside remains likely.
- MACD remains negative, Bollinger Bands show oversold conditions, but weak buying pressure suggests limited recovery potential.
FARTCOIN has seen a sharp 20.92% decline in the last 24 hours, trading at $0.9861 as of January 27, 2025, at the time of publication. This drop pushed the token below the $1 level, a 47.36% loss over the past seven days.
Despite these drops, the token remains up by 15.11% over the past month. After peaking at $2.61 on January 20, 2025, following an impressive rally, its market cap has dipped by 20.92%, now at $991.28 million.
According to trader Gammichan, the ongoing sell off shows similarities to previous declines, with notable patterns such as consecutive red candles and a steep downward slope on the 4-hour timeframe.
Bearish Price and Support Breaks
Price trends show bearish momentum, with FARTCOIN breaking key support around $1. On the 4-hour timeframe, the token is trading near its lower Bollinger Band, indicating increased selling pressure.
High volatility from earlier movements has dropped, but trading volume has increased slightly as prices dipped, suggesting sustained bearish activity. Prices remain below the middle Bollinger Band at $1.25, which previously were the support and now is as resistance.
The lower Bollinger Band at $0.95 provides the closest support level. If FARTCOIN breaks below $0.95, it could test its recent low of $0.91, followed by a potential drop toward $0.85. However, any rebound from these levels may face resistance between $1.00 and $1.25.
Technical Indicators Show Continued Downward Momentum
Technical indicators further confirm FARTCOIN’s bearish levels. The MACD indicator remains negative, with the MACD line diverging from the signal line and a deeply negative histogram at -0.13083.
This suggests persistent downward momentum, with no immediate signs of reversal. Bollinger Bands show that the price is nearing oversold levels, though no notable buying volume has emerged to support a bounce.
If the price holds above $0.95, a short term recovery toward $1 or $1.25 could occur. However, without increased buying pressure, these levels are unlikely to hold for long.
Support and Resistance Levels
Key support levels include $0.95 and $0.91, while $0.85 is the psychological support level. Resistance levels include $1, the middle Bollinger Band at $1.25, and the upper Bollinger Band at $1.56.
A bullish reversal remains unlikely unless FARTCOIN breaks and holds above $1.25 with strong buying momentum. FARTCOIN’s near term outlook suggests sellers maintain control, with further downside likely unless technical indicators and volume dynamics shift substantially.