Fartcoin Crashes 40% in a Month; Technicals Signals Further Pain Ahead

• Fartcoin is facing extreme bearish pressure on the daily technical chart.

• Fartcoin price is trading below the key EMAs, indicating bearish signs.

Fartcoin is in a major bearish reversal as it loses its former bullish momentum, and the memecoin is currently undergoing intense bearish pressure on various technical indicators. The token has lost about 12% in the past 24 hours as per CoinMarketCap data, extending a brutal month-long selloff that has seen prices fall nearly 40%.

The technical picture shows a worrying break in the price action as Fartcoin has clearly fallen below its 50-day and 200-day EMAs. At present, the memecoin is trading at a price of around $0.7975, which is far below the 50-day EMA and below the critical 200-day EMA, which shows that it has lost both short-term and long-term trend support levels. A break below key moving averages is usually an indication of a change in market structure to bearish.

The MACD indicator also supports the declining momentum with negative values and a bearish crossover as the MACD line has crossed below the signal line. The histogram shows mostly red bars, which means that the bearish momentum is gaining strength. This technical indicator indicates that the selling pressure is on the rise, and the downtrend might persist in the near future.

What Next For Fartcoin Price?

The Fartcoin price action supports this bearish view since the RSI indicator has plunged into negative territory at 43.55, which is in the oversold region but still shows low levels of buying interest. The fact that the RSI has fallen off higher levels indicates that the bullish momentum has totally scattered.

The market mood has become highly bearish, with the sentiment indicator recording bearish readings consistently. The negative sentiment, technical breakdown below the key levels of support, and the worsening of the momentum indicators create a bleak picture of Fartcoin holders.

Technically, the token seems to be in an established downtrend with more losses likely to occur. The key support levels to watch are psychological levels at around $0.70 and any other past significant lows. The technical analysis is bearish until Fartcoin can regain its moving averages and display signs of improvement in momentum indicators, which means traders should be cautious and take risk management measures when trading this highly volatile situation.

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