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Fartcoin Floats Toward $0.64 Resistance: Is a New Uptrend in Play?
Fartcoin traders can anticipate a rally toward the short-term range high at $0.63.
The past few days have seen Fartcoin’s 1-day chart signaling that the three-month downtrend has come to an end. It seems likely that the memecoin is about to establish an uptrend. The Bitcoin price trend over the recent period has been bearish, pushing FARTCOIN into a 40% correction. However, the corrective move concluded on March 31st and the cryptocurrency experienced a 35% increase since its lows of $0.383 on April 1st.
An examination of Fartcoin’s 1-day chart reveals that the price appeared to be reversing its bearish trend. The 20 and 50-day moving averages have formed a bullish crossover as of March 28th. Over the past couple of days, the 20DMA has been acting as dynamic support for the cryptocurrency. Additionally, the CMF briefly poked above +0.05, indicating significant capital inflows, but retreated into neutral territory. Meanwhile, the OBV was poised to surpass its late February highs. In combination with the volume indicators, there were signs that buying pressure is increasing.
Moreover, FARTCOIN has successfully surpassed the resistance level at $0.3615 and turned it into a support zone. This crucial move indicates a significant shift in the cryptocurrency’s structure.
Source: https://ambcrypto.com/fartcoin-floats-toward-0-64-resistance-is-a-new-uptrend-in-play/
