FARTCOIN is at a crucial crossroads, as weekly charts reveal an inverse cup and handle pattern, a classic bearish signal. According to the crypto analyst Crypto Pulse, the price now rests on the neckline, a key support level. Traders warn that a weekly close below this point could trigger a sharp decline, heightening risk for short-term investors and speculators alike.
For now, momentum remains uncertain, with no clear buyer interest visible. Crypto Pulse recommends caution, adopting a wait-and-see approach before taking positions.
Market watchers will closely monitor weekly closes and trading volume to determine whether FARTCOIN can hold the neckline or face a deeper drop. The coming days are pivotal for the token’s near-term trajectory.
Also Read: FARTCOIN Tests $0.20 Support as Warning Targets Drop to $0.10
FARTCOIN Faces Pressure Below Key Moving Averages
According to TradingView, FARTCOIN is experiencing downward pressure in the short term. The price fell below the 20-period EMA of 0.19449 and is currently testing the lower Bollinger Band of 0.18786.
The recent jump in price on February 15 to 0.22 was short-lived and failed to sustain its upward momentum. Ever since that jump, the price has traded in a narrow range of 0.19 and 0.20, with the 50-period EMA of 0.19571 and the 100-period EMA of 0.20760 providing resistance.
The proximity to the lower Bollinger Band indicates oversold pressure, yet the sliding short-term EMAs’ trend confirms that the bears are in charge. A fall through support at 0.186-0.187 could send FARTCOIN to 0.18 or lower.
A rise through the 20-50 EMAs could launch FARTCOIN on a short-term recovery, but to break through resistance at the 100 EMA (0.2076) and 200 EMA (0.23818), it is necessary to launch FARTCOIN on a sustainable run.
Momentum Indicators Support Decreasing Momentum
The RSI (14) is near 39, falling below 50, which is neutral, and seems to be reflecting diminishing strength and a short-term bearish bias.
It remains above 30, which is the oversold line, and thus there is downward pressure, though not severe. The RSI moving average is above, reflecting diminishing strength and lower bullish participation.
The MACD (12, 26, 9) is located just below the zero line, with the MACD and signal lines hugging the same low plane.
The histogram is leaning ever so slightly negative, which is indicative of the presence of a touch of bearish momentum. In other words, the power going upwards is weakening, and the pressure going downwards is building, but the momentum is not increasing.
Also Read: FARTCOIN Consolidates at $0.30: Could Bulls Push The Rally Toward $0.45?