Over the past 24 hours, Meme Coin Fartcoin has become the best market executor, which grew by 30% and ahead of the main cryptocurrencies. The rally takes place because the wider market publishes a modest 2% rebound after recent declineField
The coin of the meme has broken over the descending line of the trend, which previously retained its price in the descending trend. This breakthrough signals a potential shift in the pulse.
Fartcoin is torn over the Bear Trende line
The double price surge of the price of Fartcoin pushed it above the descending line of the trend, which previously retained its price in the downward trend. This bear cub appeared when the traders began to profit after the token rose to the maximum of $ 2.74 on January 19.
Nevertheless, the revival of the demand Fartcoin and the resulting break above this line of the tendency marks the bull shift in the market trend.
When the asset breaks above the descending line of the trend, it signals a potential change in the tendency from bear to bull. This indicates that the pressure of sales weakens, and buyers receive control. This breakthrough suggests that Fartcoin can continue up if the demand remains strong.
The growing open percentage Fartcoin also involves an increase in the trust of traders, strengthening the bull prospects. During the press, it is at the level of 221 million dollars, marking a spike of 28% over the past 24 hours.
Open interest measures The total number of active futures or options for options that were not closed or settled. Polovs in open interest during such a rake, prices indicate strong participation in the market, when the new capital enters into transactions. This implies a steady impulse and hints of potential for further prices.
Fartcoin price forecast: will it reach $ 1.05 or retreat to $ 0.40?
A steady rally over the breakthrough line can push Fartcoin to new heights. However, the purchase of an impulse should also be supported for this.
A memo coin may rally above the price area for 1 dollar to bargain at 1.05 dollars in this scenario.
However, if the results of the profit begins, this bull forecast will be invalid. The price of token can fall below the line of descending trend to bargain at 0.40 US dollars in this case
