The recently popular memecoin FARTCOIN has fallen to $0.91, losing more than 66% from its all-time high of $2.74 reached on January 19. While the selling pressure increases as the Memecoin craze subsides, technical indicators indicate that this decline may continue.
Memecoin Demand Decreased, Price Crashed
While the Memecoin craze brought the value of many Solana-based tokens to the top, FARTCOIN benefited from this wind and reached the level of $ 2.74 on January 19. However, as this hype subsided, there was a serious decrease in demand and the value of FARTCOIN decreased rapidly, falling to $ 0.91, a loss of 66%.
On the daily price chart, Awesome OscillatorThe indicator reveals that the selling pressure in the market is increasing. This tool, which is a momentum indicator, confirms the weakening momentum and bearish trend in the market with its red histogram bars.
Technical Indicators Point to a Bear Market
FARTCOIN’s price fell below the Leading Span A (green line) level on the Ichimoku Cloud indicator, confirming selling activity. This technical indicator tracks market trends and potential support/resistance levels of an asset. If the price falls below the Leading Span A, it indicates that the support level is weakening and the downtrend is strengthening.
Additionally, the possibility of the price falling towards Ichimoku Cloud’s Leading Span B (red line) indicates that the downward pressure on FARTCOIN will continue.
FARTCOIN Price Forecast: Decline to $0.70 Possible
If the selling pressure continues, the price of FARTCOIN may drop to $0.70. This stands out as a support point compatible with Ichimoku Cloud’s Leading Span B level.
On the other hand, if market sentiment turns positive and demand increases, memecoin’s price may recover to $1.13. However, this scenario depends on a strong increase in demand and a resurgence of market momentum.
Investors’ Expectations in the Popular Memecoin
FARTCOIN suffered a serious loss in value as the memecoin craze faded. Technical indicators indicate that the current downward trend may continue. Indicators such as Awesome Oscillator and Ichimoku Cloud highlight that the market is currently under strong selling pressure and investors should be careful.
On the other hand, if there is a change in market sentiment, FARTCOIN demand may increase again and the price may rise to $1.13. However, this scenario is contingent on a strong increase in demand and the return of positive momentum in the market. Investors should closely monitor market dynamics and technical signals and take their steps accordingly.
