FARTCOIN Increased by 11%: Rally May Continue If Resistance is Broken

FARTCOIN has gained 11% in the last 24 hours, rising to $1.12. This recovery following the losses in June is creating a renewed optimistic atmosphere among investors. Especially the upward signals seen in technical indicators suggest that the price may continue to move upward.

Technical Indicators Are Giving Positive Signals

The Relative Strength Index (RSI) has risen above 50 for the first time in two weeks, entering the bullish zone. This indicates that buying pressure is increasing and investor confidence is recovering. If the RSI continues to remain strong, it strengthens the possibility of an upward breakout.

In addition, the Squeeze Momentum Indicator (SMI) also supports the bullish scenario. The indicator is currently in a squeeze phase; this is known as a quiet period before a typically volatile price movement. The decrease in red bars in the histogram indicates that selling pressure is weakening and a potential upward breakout is approaching.

In the past, it was observed that FARTCOIN gained value after similar squeezes. This means that a breakout within the current technical structure could lead to a new upward wave.

$1.20 Resistance Plays a Critical Role

FARTCOIN is currently approaching the strong resistance level at $1.20. Breaking through this level could open the way for the next target of $1.42. If FARTCOIN breaks this resistance and stays above it, a large part of the losses from June can be compensated, and the upward trend may gain momentum.

The $1.20 level is also important as a psychological threshold. If this level becomes a support, it will create a strong foundation for FARTCOIN in terms of price stability.

Risk Scenario: What Happens If Selling Pressure Increases?

However, uncertainty in the market still persists. If selling pressure increases and FARTCOIN falls below the support of $1.02, the bullish outlook may weaken. In this case, the possibility of dropping below $1.00 arises, and the price could fall to $0.91. Such a pullback invalidates the current bullish scenario and indicates a negative change in investor sentiment.

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