Fartcoin Crypto: Price Analysis and Resistance Signals

Bittime - Fartcoin (FART) recently caught the attention of the crypto market after successfully breaking out of its previous corrective phase. These changes indicate that the price may be preparing for a bullish trend, providing new opportunities for traders and investors. In this article, we discuss technical analysis, including key resistance levels, price predictions, and signals indicating possible future price increases.

Important Points

• Breakout Signal: Fartcoin managed to break the descending trend line, signaling the end of the correction phase.
• Analisis Elliott Wave: The price is likely entering a new uptrend phase, with the formation of an impulsive wave.
• Level Fibonacci: The main targets are at $0.82 and $1.05, with higher upside possible.

Fartcoin Price Overview

The 4-hour chart for Fartcoin shows an interesting technical pattern. The five-wave Elliott Wave sequence peaked at $2.74 on January 19, 2025. After that, a corrective ABC pattern formed, with a descending channel that pushed the price down to $0.00 on February 6.

Also read: XRP Price Prediction Today February 5

However, after testing the $0.40 area, the price started to reverse direction, managing to break out of the descending channel. This breakout is considered a sign of the end of the correction, signaling the start of a potential uptrend.

Resistance Level and Breakout Confirmation

Despite the positive price action, Fartcoin price is still at the 0.618 Fibonacci retracement level around $0.70. This is an important resistance point, and a successful breakout of this level will confirm that a solid price reversal has formed.

On February 11, the price rose to $0.70 before showing temporary signs of resistance. This could be a temporary dip before Fartcoin resumes its rise, but traders should monitor further developments in the coming days.

Next Resistance and Support Zones

If Fartcoin manages to break the $0.70 level, the next major resistance is at $1.00 (0.618 Fibonacci retracement). This level has previously been a pivot point during price declines, making it a key area to monitor.

Additional resistance lies around $1.70 (0.382 Fibonacci retracement), which could become more likely if Fartcoin continues its upward momentum. Currently, it is very important to monitor the $0.60 zone (0.786 Fibonacci retracement), because if the price falls below this level, it could signal the return of the correction phase.

Short Term Price Predictions

On the 1 hour chart, the Elliott Wave count shows that a new impulsive wave is developing. The first sub-wave (i) started with a breakout of the channel on February 8, rising 55% from $0.40 to $0.62. The subsequent decline found support at $0.46, forming wave (ii), and now wave (iii) is forming.

Also read: XRP Price Predicted to Reach $5, Analyst Reveals Opportunities for Increase

The Fibonacci extension tool shows that the 1.618 level at $0.82 is a logical target for wave (iii), followed by the 2.0 extension at $0.90. If the trend continues, higher levels such as $0.96 and $1.04 (2.272 and 2.618 extensions) could become relevant.

RSI and Momentum Analysis

The Relative Strength Index (RSI) on the 4-hour chart recently returned from oversold conditions, further supporting the idea that a trend reversal is underway. Meanwhile, the RSI on the hourly chart is still neutral, which means there is still room for upward movement before overbought conditions appear.

Critical Support and Invalidation Levels

Although the current price action is bullish, it is important to monitor key support levels to assess the health of the ongoing uptrend. Immediate support is at $0.60 (0.786 Fibonacci retracement), and if the price cannot sustain above this level, then the correction may not be over yet, which will lead to further declines.

Critical support is found at $0.46, which is the breakout invalidation level. A drop below this level would most likely signal that the bullish momentum has faded, and the price could visit a lower support level.

Conclusion

Fartcoin's recent breakout from the descending channel signals that the cryptocurrency is entering a new bullish phase. The development of a new impulsive wave indicates the potential for further upside, with targets around $0.82 and $1.05 as key resistance levels. However, traders should remain cautious and closely monitor support levels such as $0.60 and $0.46, as this will determine whether this recovery holds or a deeper correction occurs.

Now, Fartcoin price remains well positioned to grow, and the next few days will be crucial to confirm whether the bullish trend continues or faces resistance from higher Fibonacci levels.

Key Levels to Monitor

• Immediate Resistance: $0.82 (1.618 Fibonacci extension)
• Key Resistance: $1.05 (retracement Fibonacci 0.618)
• Main Resistance: $1.38 (retracement Fibonacci 0.5)
• Immediate Support: $0.60 (retracement Fibonacci 0.786)
• Key Support: $0.53 (Fibonacci retracement wave ii)
• Critical Support: $0.46 (level invalidasi breakout)
• Short Term Targets: $0.90 – $1.05 if wave (iii) develops as expected
• Zona Invalidation: Below $0.46, which indicates the potential for further declines

As Fartcoin prices develop, careful monitoring of these levels will help investors determine when to enter or exit the market. Stay updated with further analysis or changes in market sentiment to optimize trading strategies.

FAQ 

What is Fartcoin?

Fartcoin (FARTCOIN) is a memecoin on Solana that is famous for its fart sound effects during transactions.

How to buy Fartcoin in Indonesia?

Buy on platforms like Bitget using Rupiah (IDR) via bank transfer, e-wallet, or other crypto.

What is the use of Fartcoin?

Investments, trading with other cryptos, or payments (if one is accepted).

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Reference

CCN, FARTCOIN Price Jumps After Breaking Major Resistance — Bullish Trend Confirmed, accessed 12 February 2025.

Author: MF