FARTCOIN: The Memecoin That’s Making Waves (and Smells Like Profit) 🚀💨

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  • Fartcoin had a bullish structure on the 1-day price chart, which is fancier than a hog in a top hat.
  • Short-term range formation meant that buyers had reason to be bullish, or at least less bearish than a hibernating grizzly.

Fartcoin [FARTCOIN] was one among just four crypto tokens in the top 100 to register gains over the last 7 days. This unusual achievement came at a time of widespread market panic, in both crypto and global stock markets. It’s like finding a diamond in a cow pat—unexpected, but oddly satisfying.

This show of relative strength from the memecoin is a positive sign. In an earlier analysis, it was observed that Fartcoin had formed a short-term range. This range is still being respected, much like a stubborn mule. And, the bullish outlook on the 1-day chart remains intact, despite the recent volatility, which is more unpredictable than a cat on a hot tin roof.

Why Fartcoin investors can be hopeful of recovery

On the 1-day chart, the memecoin had a bullish structure since breaking the $0.36-level in March. This meant FARTCOIN made a new higher high, flipping its trend bullishly. This was reinforced when the price retested the same level as support a few days ago. It’s like a boomerang—it keeps coming back, but this time with a vengeance.

The OBV, which had been trending upwards in the second half of March, stopped moving higher over the past week. This implied that buying pressure has been weak, like a handshake from a jellyfish. The $0.51-level has opposed the bulls for ten days and is likely to be a stern opponent in the near term, like a bouncer at a speakeasy.

The Directional Movement Index showed that even though FARTCOIN has been rangebound over the past three weeks, it retained a strong bullish trend. Overall, while the token was not explosively bullish, it defended a key support level and possessed a bullish structure. This makes it a better performer than dozens of altcoins, which are about as useful as a screen door on a submarine.

The 4-hour chart revealed that the bulls have been more hesitant recently. The mid-range resistance level at $0.52 has been a formidable opponent, like a stubborn cork in a bottle of cheap wine. However, it is likely that the memecoin bulls will drive the price beyond it once again, because even a blind squirrel finds a nut sometimes.

Market conditions are volatile too. And, this can suit some trading styles, such as scalpers. Traders must be keenly aware of their strengths and avoid over-trading or FOMOing in case of a Bitcoin [BTC] bounce. That being said, if $0.52 is flipped to support in the coming days, an opportunity to go long and target $0.64 might open up, like a treasure chest in a pirate’s dream.

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2025-04-08 03:05