Fartcoin price holds steady at $1.05 despite a 49.48% drop in 24-hour trading volume.
Technical chart shows a potential bullish reversal with an inverse head and shoulders pattern.
Resistance levels at $1.10 and $1.22 remain key for short-term trend confirmation.
Fartcoin (FARTCOIN) on the Solana blockchain is showing technical consolidation following a protracted corrective drop. The token has stabilized at $1.05, with a small 0.20% increase in the past 24 hours. Despite a softer general market, the token is currently #69 on the market cap, worth a total of $1.05 billion.
Data reveals that yesterday’s trading volume of $203 million represents a 49.48% fall compared to the daily volume seen the day before. A double-bottom seen on the 1-hour chart may backstop the price near $0.95 for a short support move.
Volume Dips as Supply Nears Max
While the price holds steady, the trading volume decline indicates a cooling of speculative activity. The percentage of volume to market cap is 19.46% which suggests that investors are turning their attention back toward cryptocurrencies after recent growth. Also worth mentioning, some traders may be hesitant as Bitcoin remains near $106,000.
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As the FARTCOIN circulating supply has reached almost 1 billion out of a total of 1 billion, there is very little chance for price dilution. However, the subdued volume trend could delay momentum unless broader market conditions turn more favorable. This reduction in volume occurred just after the token retraced from an intraday low of approximately $0.93 on June 6.
Reversal Pattern Targets $1.10 Breakout
A technical pattern on the lower time frame chart shows a potential reversal forming. The illustrated inverse head and shoulders pattern signals a possible bounce continuation. The first resistance area to monitor sits around $1.10, which marks a neckline confirmation zone.
A breakout from this level may open the door to retesting the $1.22 range, which is aligned with the recent all-time high area noted on the chart. These two price levels serve as key validation zones in the short term. The structure remains intact as long as the price continues to post higher lows and maintains support above the $0.95 mark.
Fartcoin Holds Steady Amid Volatility
Despite the volatility, Fartcoin’s overall market structure remains intact on a macro level. The market cap held firm at $1.05 billion, aligning with the token’s stable price at $1.05. Supply metrics reveal minimal inflation risk, given that only a fraction of the total supply remains uncirculated.
Additionally, the chart suggests a gradual bottoming formation, even as external market conditions remain mixed. The next few sessions could be crucial in determining whether the short-term bullish structure remains valid or fails to hold under broader market pressures.
