Fartcoin Price Eyes Key Breakout As Price Stalls Repeatedly Below $1

Fartcoin price has substantially recovered since early April. It gained over 100% and traded around $0.91. However, despite the uptrend, the token faced resistance at the psychological $1.00 level. This memecoin has been all over social media for the last few weeks.

Nonethless, in the current volatile environment traders need to be cautious of memecoins and speculative trading. Despite decent price gains, it’ll be fun to see how Fartcoin will perform going forward as the market tightens.

Earlier this month, a technical breakout pattern was confirmed, but the rally has lost momentum near that critical zone. While the market remains bullish, price action suggests traders hesitate to push above $1.00.

Heavy Outflows Raise Questions Despite Bullish Pattern Completion

Fartcoin price experienced a classic cup and handle pattern formation in the previous month. After confirming the breakout, the price surged by nearly 85%. The increase in volume and rising moving averages supported the uptrend. However, investor activity shifted in the days that followed.

Net flow data showed both gains and losses between April 1 and April 15. The meme coin attracted more than $3 million worth of investment on April 4 as investors displayed substantial interest.

The price movement revealed initial selling pressure through a change from positive to negative net flow, which occurred on April 5.

The largest outflow in the past two weeks occurred on April 15, with -$5.74 million exiting the asset. Analysts linked this to a large wallet that used a dollar-cost average strategy to sell 6.25 million tokens.

Lookonchain reports valued the transaction at around $5.53 million. It added pressure to the market during an already uncertain phase.

Fartcoin Price Repeatedly Rejected Below $1.00: Bulls Struggle to Maintain Momentum

Despite the bullish structure, FARTCOIN has been unable to break and hold above the $1 mark. Several attempts have failed, and the price continues to face rejection near that level.

Since late March, the token has traded between $0.85 and $0.92. That showed that neither buyers nor sellers were in complete control.

Support areas were identified through Fibonacci retracement levels, especially the 0.382 level at $0.66967 and the 0.5 level at $0.59356. The addition of support levels matched the positions of the 100-day Exponential Moving Average.

The rising patterns of both 20-day and 50-day moving averages indicated investors anticipate long-term bullishness. A trading volume at approximately $1 poses difficulties for the token to elevate its price.

When writing, the CoinGlass long-to-short ratio stood at 1.0084. It demonstrated more traders held long positions to only a minor extent. During the previous day, $2.68 million worth of short positions got liquidated alongside $1.98 million worth of long positions being closed.

The financial market remains uncertain as traders tend to switch their positions during this period.

Technical Indicators Show Strength but Warn of a Possible Pullback

Different market indicators reveal ongoing bullish trends yet indicate increased caution levels. The RSI value, at press time, stood at 69.29. It displayed an almost overbought position and drew near the overbought threshold of 70. A price rise beyond this level could trigger short-term profit deals that might result in market drops.

The MACD indicator basics indicated upward price pressure through its continuous position above the centerline, prompting green histogram results.

FARTCOIN price will possibly trigger a major correction if it falls below the $0.90 support area. The handle portion from the cup and handle pattern appeared at this resistance zone.

FARTCOIN’s market capitalization was at $910 million, marking a 102% rise since the start of April. Volume remained strong, showing that institutional and retail interest was still active. However, some traders were stepping back without a successful push above $1.

Whale Activity and Trading Volume Continue to Drive Market Sentiment

FARTCOIN whale activity continues to influence price action. According to Lookonchain, large holders have realized gains using measured strategies rather than quick exits. This selling may cap upside potential in the short term if not absorbed by buying volume.

While the April rally brought attention back to Fartcoin, the key to the next move is a confirmed breakout above $1. Until that happens, traders are expected to remain cautious. Support zones around $0.90 and lower may become more critical if selling pressure grows.

Fartcoin continues to be one of the most tracked meme coins this cycle. However, further gains depend on volume and a clean break above resistance.