Fartcoin Eyes the $1 Mark, Will Bulls Deliver a Breakout?

• Fartcoin is currently trading around the $0.88 mark.
• The market has witnessed $4.13 million worth of Fartcoin liquidations.

Amid mixed sentiment, crypto assets fluctuated between gains and losses. Notably, they remain within the markets fear zone. The largest asset, Bitcoin, is trading around $84.3K, while Fartcoin has recorded a 1.56% uptick.

In the early hours, Fartcoin traded at a range of $0.8664. After the brief bullish wave, the asset jumped to a high of $0.9586. At the time of writing, Fartcoin trades within the $0.8886 range with its market cap at $890 million.

Furthermore, the market has witnessed $4.13 million worth of Fartcoin liquidations, according to Coinglass data. Also, the daily trading volume of the asset has surged by 11.87% to $340 million.

Over the last seven days, Fartcoin has registered a gain of over 22.53%. The asset began trading the week at $0.6827 and hit a weekly high at around the $0.95 range. The price held at the $0.77 mark, not to slip below it.

Can Fartcoin Hold Strong, or Is a Drop Looming？

Fartcoins price trajectory exhibits a brief negative momentum. The asset might potentially drive the price lower to $0.8820. Assuming a persistent downside correction, the asset could test the crucial support at around $0.8704.

On the other hand, if the bulls took control of the asset, the price might likely ascend to the $0.8947 range. In case Fartcoin forms a golden cross, the price could steadily climb and retest the resistance around the $0.9040 mark.

The Moving Average Convergence Divergence (MACD) line of the asset has crossed below the signal line, indicating a bearish momentum. Additionally, Fartcoins Chaikin Money Flow (CMF) indicator, found at -0.14, suggests that the money is flowing out of the asset.

Moreover, the assets daily relative strength index (RSI) at 51.67 signals that the asset is in a neutral zone. The Bull Bear Power (BBP) value of 0.0224 infers a modest bullish dominance within the market.