The Meme Coin Fartcoin based on Solana has become the highest cryptocurrency in the market today, which has grown by 19% over the past 24 hours.
It is traded at the highest level from January 30, noting a 12-week peak. Given the fact that the Meme coin seeks to expand its rally in the short term.
Buyers Fartcoin are tightening their grip
On the daily graphics Fartcoin/USD, the bull impulse continues to build. The indicator of the positive power balance balance (BOP) reflects the strong dominance of customers in the market. During print, it is 0.69.
The BOP indicator measures the power of buyers compared to sellers in the market. When its cost is positive, buyers dominate and provide more pressure than sellers.
Therefore, the growing positive BOP Fartcoin involves an increase in demand and potential for further movement in raising prices.
In addition, over the past few days, the rods forming an older Fartcoin index steadily increased in size, emphasizing the consistent growth of bull pressure.
The elder’s index measures the power of buyers (Bull Power) and Bear Power, comparing high and low asset prices with its exponential sliding average (EMA). When its value is positive, the power of the bull is dominant.
This growth suggests that Fartcoin buyers receive more control over the market, raising prices with each passage.
Fartcoin eyes of a breakthrough
At the time of writing this article, Fartcoin is traded at the level of $ 1.06, just below the main resistance level of $ 1.16. If the demand is strengthened, and the memo coin will be able to turn this price level into the auxiliary floor, its rally will be pulled, potentially raising the price to $ 1.46.
On the other hand, if the results of the profit begins, this bullish look can be invalid. In this scenario, Fartcoin’s value can drop to $ 0.74.
If the bulls cannot protect this support level, the price of Fartcoin can fall to a minimum of $ 0.19.
