FARTCOIN PRICE ANALYSIS & PREDICTION (April 28) Fartcoin Advances Bullish With a Fresh 20% Increase Overnight, Nears Recent Peak
As Bitcoin continues to trade calmly under $96k, flowing volatility into altcoins, Fartcoin slowly advances buying while gathering liquidity. A big price movement is around the corner as it steadily builds up.
Last month marked a new turnaround for Fartcoin after correcting lower for about two months. This came with a fresh increase from the $0.2 low and is now looking super bullish following a higher high and higher low formation on the daily chart. This formation suggests a shift in the trend.
As seen on the daily chart, the price is nearing the recent peak, although the buying pressure is not much due to moderate volume inflow. This suggests a liquidity gathering phase, and from the look of things, the price will likely explode massively as soon as it breaks the peak.
Such an explosion should send the price to a new high. Failure to break out of this peak could subject the market to a brief consolidation phase before exploding. Multiple rejections at around the peak level could trigger a drop capable of bringing another bearish action in the market.
Even though that happens, it must reclaim last months low before we can confirm a major bearish move from a mid-term perspective. But as it stands now, the bulls will likely sustain this momentum in the long term.
FARTCOINs Key Levels to Watch
Source: Tradingview
Following the new bullish formation, Fartcoin eyes the $1.6 resistance. A push above this resistance should bring a full recovery to the peak level of $2.74 with a potential break to $4.
Currently, there are no signs of weakness. But if the price pulls back, the support levels to watch are $0.95, $0.645 and $0.355. A drop off last months $0.2 support should confirm a new bearish phase.
Key Resistance Levels: $1.6, $2.74, $4
Key Support Levels: $0.95, $0.645, $0.355
- Price: $1.16
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Text source: NullTX
