Fartcoin dropped over 10% despite surging trading volume after its Binance. US exchange debut.
The coin faced price rejection at $1.30 and $1.24 resistance zones, triggering a quick sell-off.
Technical data reflects indecision, with RSI near 47 and weak MACD growth offering no trend confirmation.
Fartcoin, a Solana-based meme token, began trading on Binance.US and saw immediate price volatility. It opened near $1.24 and briefly touched $1.30 before quickly reversing direction. The coin fell to $1.12 by the end of the trading day, marking a 10.62 percent decline. The drop followed a brief buying wave that faded under early profit-taking and resistance at key price levels.
The price faced strong rejection between $1.30 and $1.32, which acted as a ceiling during its upward push. A secondary resistance formed at $1.24, which had initially supported the price before becoming a barrier after the decline. These levels contributed to the downward momentum seen shortly after the token's listing.
Volume Spikes Amid Selling Pressure
Despite the drop, trading volume for Fartcoin reached $373.2 million in 24 hours. This represented a 66% increase from the day before, driven by high speculative interest tied to the coin’s debut. The large volume showed that interest in the coin remains high, but traders appeared divided on its short-term value.
Technical analysis presents mixed signals. The MACD indicates slight bullish momentum, though the strength is limited. The MACD line is staying slightly above the signal line, and the histogram is not increasing much. Meanwhile, the Relative Strength Index (RSI) becomes 47.31, which indicates a neutral tendency and the doubt of traders.
Project Profile and Market Outlook
Fartcoin maintains a market capitalization of $1.12 billion, with most of its total supply already in circulation. While liquidity remains steady, analysts express concerns about long-term volatility. The token’s fundamentals, including a profile score of 48 percent, point to a project still building credibility.
Certain market analysts feel Fartcoin might still be on the way down, and it can even reach the limits of $0.924 to a $0.953 range by the end of this year. The inability to define a distinct direction of the trend and a poor level of technical support emphasize the impossibility of stating the direction in which the price might be moving.
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