The price of Fartcoin has surged by 10% in the past 24 hours as the memecoin shows sign of bullish reversal after falling continually since past few days.
As per Coinmarketcap data, Fartcoin price is currently trading at $1 mark, which is considered a major support for the current channel. Throughout December and January, Fartcoin has witnessed huge volatility with it falling over 70% after hitting a new high.
The 4 hour price chart clearly shows that Fartcoin has made notable movements in the past two months and it is now preparing to pull out a similar one in February. If it plays out, the next leg-up for Fartcoin price will be above $3 or breaking even further to $4 in coming months.
Fartcoin price has currently found a key support at $0.8 and another notable buyers at $0.6, which suggests that price trend below this level could bring significant recovery risk.
Danny Dicey, a crypto trader and analysts, shares that Fartcoin is eying for a larger re-accumulation. “Fartcoin (Sol) is in early stages of repeating the last accumulation bottom that started a strong up-trend,” he said.
The trader believes that “conditions will flip” and Fartcoin price will “reverse quickly.”
What’s next for FARTCOIN?
While the crypto market is slowly recovering and leading crypto assets are seeing steady recovery, several memecoins are also coinciding the trend. Fartcoin price recently broke to a new all-time high of $2.74 on 19th January. It is now expected that it will once again catch up with sharp uptrend and make a new high above $3 in coming months.
If memecoin trend hits back the crypto market, the price of Fartcoin – alongside whole memecoin segment – could see fresh capital inflows. Such a scenario could pump Fartcoin price significantly higher than expected.
