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The Fartcoin price has soared 16% in the last 24 hours to trade at $0.9878 as of 11:30 p.m. EST on a 93% surge in trading volume to $434 million.
This comes as the meme coin space recorded a 5% gain in the last 24 hours to reach a market capitalization of $102 billion, according to CoinGecko.
Fartcoin Price Poised For A Breakout
The FARTCOIN price experienced a parabolic rise, reaching highs above $2.50, before entering a downtrend.
The Fartcoin price has since been forming a falling channel pattern, indicating a corrective phase. However, a breakout from this pattern could lead to a strong move in either direction.
Meanwhile, the upper boundary of the falling channel, currently around $1.20 – $1.30, acts as the primary resistance level. A breakout above this zone could trigger a bullish reversal, according to GeckoTerminal data.
The price of FARTCOIN, as a result of the sustained downtrend within the channel, has fallen below both the 50-day and 200-day Simple Moving Averages (SMAs), which now act as the immediate resistance levels.
The Relative Strength Index (RSI) is currently at 45.39, indicating neutral momentum. This suggests that the market is neither overbought nor oversold, leaving room for potential upside movement if buying pressure increases.
Meanwhile, the possible breakout movement is supported by the Moving Average Convergence Divergence (MACD), as the blue MACD line crosses above the orange signal line, which is a sign of a bullish crossover.
FARTCOIN Price Prediction
The Fartcoin price analysis on the 4-hour timeframe indicates that the price of Fartcoin may be headed towards a breakout.
If FARTCOIN breaks above the falling channel and the $1.20 – $1.30 resistance zone, we could see a push toward $1.50 – $1.80 in the short term.
Conversely, if the price of FARTCOIN fails to break out and continues downward, key support levels to watch would be $0.80 and $0.60.
As the Fartcoin price soars, investors are also buying into a new meme coin called Meme Index (MEMEX). According to crypto analyst and YouTuber Jacob Bury, who has over 54.8k subscribers, MEMEX has the potential to be the next 10x crypto.
Meme Index Presale Amasses Over $3.1 Million In Presale
The Meme Index presale is gaining momentum as it hurtles towards the $4 million milestone.
Meme Index presents a strategic approach to navigating the volatile meme coin sector, offering investors a diversified pathway to exposure. It offers four distinct indexes with different levels of volatility and risk tolerance.
These are Meme Titan, Moonshot, Midcap, and Meme Frenzy. Each basket caters to varying risk appetites, from relatively safer options like Meme Titan to the highest-risk Meme Frenzy, which features emerging and highly volatile meme coins for those seeking a thrilling investment experience with potentially huge rewards.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
MEMEX holders can also participate in its presale staking pool, which currently provides a stratospheric annual yield of 734%.
To participate in the presale, you can purchase MEMEX tokens on the official website for just $0.0156557.
Buy soon to lock in the best deal as the price will increase in about 20 minutes.
Buy MEMEX tokens using USDT, ETH or bank card.
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