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The Fartcoin price surged 7% in the last 24 hours to trade at $1.03 as of 7:33 a.m. EST as investors rush to buy the crypto.
Despite the recent gain, the FARTCOIN price remains over 11% in the red on the longer-term weekly time frame.
Fartcoin Price Rebounds From Support, But Can It Break Through Nearing Resistance?
Daily chart for FARTCOIN/USD (Source: GeckoTerminal)
The Fartcoin price rebounded from the $0.8428 support level in the last couple of days, marking the end of a multi-day negative sequence, data from GeckoTerminal shows. Now, the meme coin is attempting to flip the resistance level at $1.0503 into support.
Clearing that technical obstacle with strong volumes could push the Fartcoin price to the next major resistance level at $1.2785, possibly even to as high as $1.5414 in the next week if the bullish pressure persists.
However, a rejection from the $1.0503 mark might spook traders, potentially invalidating the bullish thesis. In a more bearish scenario, the Fartcoin price could retest the aforementioned $0.8428 support level.
Technicals Suggest The Fartcoin Price Might Rise Higher
Looking at technical indicators on the daily chart, it appears a bullish scenario is more likely to play out in the next 24-48 hours. More specifically, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are starting to show bullish signs. However, they also warn that bears still have a slight upper hand over buyers.
In the last 72 hours, the MACD line has started to rise towards the MACD Signal line. While the current alignment of the two technical indicators still favors bears, the shrinking gap between the lines could lead to a bullish crossover soon. If this happens, the Fartcoin price might enter into a confirmed positive trend.
Meanwhile, sellers have lost some of their control over the Fartcoin price, as suggested by the rising RSI values over the last couple of days. While this might be a bullish sign, the indicator is still positioned at the neutral 50 mark. Traders will want to tread carefully, because the leveling off of the RSI may lead to a bullish fake-out before another leg down.
As the Fartcoin price tries to break through the approaching resistance, investors are piling into the ICO for a new Dogecoin derivative called Maxi Doge Token (MAXI). According to 99Bitcoins, a prominent YouTube channel with over 723K subscribers, MAXI has the potential to soar 100X after its launch.
A Meme Coin Chasing Leverage-Fueled 1,000X Gains
Meme coins have developed a reputation over the years for either generating life-changing gains or erasing traders’ life savings. This extreme volatility has lessened recently, mainly due to the hundreds of new tokens that launch on a daily basis and thinly-spread retail capital.
However, Maxi Doge, a new canine-themed crypto inspired by the original Dogecoin (DOGE), could be the ultimate meme coin play.
Parabolic gains don’t come easy, and oftentimes require an all-in mindset from traders and investors. MAXI is all about this mentality, and seeks to appeal to true degen traders who are in search of the next 1,000X gains. As if crypto trading is not already risky enough, Maxi Doge takes it to another level, encouraging uncomfortable levels of leverage with no stop-loss or safety nets.
Built on the ethos of “wake up, sweat, trade, repeat,” Maxi Doge’s mascot is a buff Shiba Inu dog that is a hybrid between gym bro and crypto degen.
As the project looks to grow its community of traders who are all searching for those massive crypto plays, Maxi Doge will host a series of competitions that will see rewards distributed to the top ROI hunters.
There will also be partner events, gamified tournaments, and future platform integrations. With 25% of the meme coin’s token supply allocated to the Maxi Fund, the project places a strong emphasis on exposure. This could lead to MAXI itself becoming the next crypto gem.
MAXI Presale Soars
Investors are already flocking to MAXI’s ongoing presale, which has raised over $357K in less than a week.
To get in at this ground level of the project, investors can purchase MAXI through the simple buy widget embedded on the project’s website. Selling for $0.0002505, MAXI can be purchased with either crypto or bank card.
Interested investors will want to hurry, because MAXI’s price will undergo a series of increases as its presale progresses. The next ICO price hike will take place in about 24 hours.
Visit the official Maxi Doge Token website to learn more.
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