FARTCOIN’s price has plunged 66% from its all-time high (ATH), which it reached on January 19. Readings from the meme coin’s price chart indicate that the decline shows no signs of slowing as bearish momentum continues to dominate the market.
With strengthening selling activity, FARTCOIN’s price could continue to fall in the short term. Here is why.
FARTCOIN Demand Dips, Price Plummets
Due to the meme coin mania that drove the values of many Solana-based meme coins to new price peaks, FARTCOIN rose to a new all-time high of $2.74 on January 19. However, as this hype dwindled, the demand for FARTCOIN also decreased. Its value has since plummeted by 66%, causing the token to trade at $0.88 at press time.
On the daily chart, FARTCOIN’s Awesome Oscillator indicator reflects the growing selloffs among market participants. As of this writing, this momentum indicator presents a red histogram bar.
The Awesome Oscillator is a momentum indicator that measures market strength and identifies trends and potential reversals. When it presents red histogram bars, it indicates that the momentum is decreasing compared to the previous bar. This signals a weakening of the current trend or a shift toward bearish sentiment.
Furthermore, FARTCOIN has broken below its Ichimoku Cloud’s Leading Span A (green line), confirming the selling activity.
This indicator tracks the momentum of an asset’s market trends and identifies potential support/resistance levels. When an asset’s price falls below Leading Span A, it signals potential bearish momentum as the price moves into or below the cloud. This indicates weakening support and possible trend reversal.
FARTCOIN Price Prediction: Bearish Cloud Signals $0.70 Target
FARTCOIN’s potential fall toward the Leading Span B (red line) will further strengthen the downward trend. The meme coin’s price could drop further to $0.70 in this scenario.
On the other hand, if market sentiment shifts from bearish to bullish and FARTCOIN’s demand rockets, its price could climb toward $1.13.
The post FARTCOIN Tumbles 66% From All-Time High, Eyes More Declines appeared first on BeInCrypto.
