Fartcoin (FART) saw a sharp 5.5% decline over the past 24 hours, sliding to $0.955 after a failed attempt to hold gains following its June 19 listing on Binance.US.
The token briefly surged to $1.30, but the rally quickly unraveled as resistance at the $1.30–$1.32 zone triggered heavy profit-taking.
According to data from CryptoFront News, the token’s initial 5% pump met immediate rejection, leading to a 66% surge in 24-hour trading volume, reaching $373 million as traders rushed to offload positions.
Lack of Fundamentals and Technical Weakness Undermines Rally
The sell-off was fueled by a lack of fresh catalysts. CoinMarketCap rated Fartcoin’s fundamentals at 48%, suggesting that investor interest remains highly speculative. Technically, the momentum indicator MACD turned negative (-0.0181) as the sell pressure intensified, a signal of weakening bullish control.
Key support levels also failed to hold:
- The $1.20–$1.21 zone (a June 15 swing low) was breached,
- The RSI (14-day) fell to 42.8, rejecting off the neutral 50 level, and
- Price action moved below both the 10-day and 50-day SMAs ($1.21 and $1.22 respectively), confirming a bearish shift.
Support Eyed at $0.89–$0.92
Traders now focus on the $0.89–$0.92 area, which aligns with the lower Bollinger Band and the May 31 low. This zone may offer a short-term stabilization point amid rising volatility.
Despite the recent price drop, interest in Fartcoin remains high, but the token now faces critical tests of both technical resilience and investor confidence.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/fartcoin-drops-below-1-after-binance-us-listing-sparks-sell-off/