Fartcoin Faces Brutal Selloff as Bulls Fail to Defend Key Support Levels

• Fartcoin is under extreme bearish pressure, breaking below the key EMA levels.

• Fartcoin price is down by almost 14% in the last 24 hours, suggesting bear dominance.

Fartcoin (FARTCOIN) is under intense bearish pressure, and it is currently trading at $0.92854 after falling below the important levels of the exponential moving average (EMA). The meme coin has not been able to hold its position above the 50-day EMA ($0.90896) and the 200-day EMA ($0.90896), which is an indication that the market has changed its bullish sentiment to bearish.

The price movement shows that the bulls have tried to take back the market, but they were strongly denied at the 200-day EMA resistance line. Such dismissal has increased selling pressure, driving the token down to critical technical support levels. CoinMarketCap data show that over the past 24 hours, Fartcoin has dropped by about 14%, which indicates that the bears have taken over the market.

The technical indicators in various periods are displaying a consistent picture of bearishness. The Relative Strength Index (RSI) has fallen to 44.08, squarely in the negative territory and on the verge of overselling. This indicates that the bearish momentum is high and investors are not interested in buying at the prevailing levels.

What Next For Fartcoin Price?

The Moving Average Convergence Divergence (MACD) indicator also supports the bearish view since the MACD line is moving downward with the signal line below the MACD line. The red bars in the histogram show that the bearish momentum is gaining and not decelerating.

The market sentiment analysis indicates that the market sentiment is worsening, with the sentiment indicator reflecting a negative trend that is increasing. This change of market psychology usually comes before long periods of declining trends, since fear starts to rule trading choices.

In terms of support and resistance, the crucial level to observe is $0.70200. In case Fartcoin falls below this psychological and technical support area, investors would see a more significant fall. The second significant support is at the level of $0.6100.

But to recover, bulls must regain the level of $0.90896 and use it as support. It would only require a sharp move above the 200-day EMA to indicate a potential reversal of the trend and draw new buying attention.

With the existing technical configuration, traders ought to be very cautious and take into account risk management measures. The combination of bearish signals indicates that the least resistance is to the downside in the short run.

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