The Fartcoin price surged 18% in the last 24 hours to trade at $1.21 as of 2.30 a.m. EST on trading volume that went up 34% to $142.57 million.
Fartcoin’s price started to soar earlier this week, after dropping to $0.6882 on January 13. The popular meme coin then surged to $1.2 on the very next day as Bitcoin started recovering, and investors and traders started doubling down on their favorite coins and tokens.
While FARTCOIN was initially rejected from the resistance at $1.2, and its price dropped to $1, it managed to bounce back immediately, which started yesterday’s surge that took the coin beyond the resistance to $1.3411.
While the coin failed to reach its ATH of $1.6 which it previously hit on January 3 of this year, it made a significant advance and it came quite close to it.
Fartcoin Price Prediction
As the Fartcoin’s price surged yesterday, the popular meme coin’s Bollinger bands saw a massive widening, but even so, the price rose so quickly that it went beyond the upper band within minutes. This was the surge that took its price to $1.20 for the first time, which was followed by a minor correction to $1.11.
The bands narrowed at this point, but they immediately started widening again. Meanwhile, the token surged again, returning to the resistance, breaching it, and continuing further up. But, after reaching its weekly high, the price started correcting again, which caused another tightening of the bands, and this time, the price started pushing the lower one further down.
During the previous correction, it only dropped to the middle line between the two bands, so this drop to the lower one might suggest that the bullish wave that pushed the token beyond $1.3 could be over.
The project’s Relative Strength Index (RSI) definitely showed strong bullish activity yesterday, which pushed the metric into the overbought zone three times, while it reached the value of 80 twice.
Each push into the overbought zone resulted in a drop back to the neutral area, suggesting that traders were regularly taking profit as the bullish wave caused the token to be overbought. However, as they repeated the process the third time, the RSI kept dropping further down, suggesting that the new wave of purchases did not follow.
Instead, the RSI, which would previously drop to 55 before going up again, started spiraling down until it reached 37. But, the buyers finally returned at this point, buying the dip and pushing the RSI back up. It is nearing 50 as of the time of writing, which indicates that the price is likely to see a recovery from its drop to $1.21.
