Following an 18% drop, FARTCOIN shows signs of a rebound as selling pressure fades.
The daily chart reveals a bull flag formation after FARTCOIN’s rally to $1.55 on June 11.
The NVT Signal has declined, indicating rising transaction volume and a bullish sign.
After enduring an 18% decline over the past week, Fartcoin (FARTCOIN) bulls appear ready to reverse the trend. In the final week of May, the Solana-based memecoin formed a bullish structure, hinting at a run toward $2.
However, the rally stalled near $1.55, where strong resistance triggered a rejection. Now, with selling pressure showing signs of exhaustion, FARTCOIN’s price action suggests the decline may be bottoming out, potentially setting the stage for a possible rebound.
FARTCOIN Holds the Line
On the daily chart, CCN observed the emergence of a bull flag pattern. The setup began with a strong upward move, culminating in a surge to $1.55 on June 11.
Following that rally, FARTCOIN’s price entered a corrective phase, sliding into a falling channel. This consolidation structure, joined with the previous uptrend, formed the bull flag.
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Amid this technical structure, the Chaikin Money Flow (CMF) has climbed above the zero signal line again, increasing to 0.03.
This increase indicates that FARTCOIN bulls are ready to keep the price from sliding below $1. If sustained, the meme coin could exit the corrective phase and bounce from its current level.
If confirmed, the bull flag breakout could see FARTCOIN’s price establish support around $1.03, strengthening the case for a bullish reversal. From there, the token may retest upper resistance near $1.39.
From an on-chain standpoint, the Network Value to Transactions (NVT) signal supports the bullish outlook.
This variant uses a 90-day moving average of daily transaction volume in the denominator, providing a more reliable view of network activity relative to market value.
A rising NVT signal suggests bearish conditions, as market cap growth outpaces network usage.
However, in this case, FARTCOIN’s NVT signal has declined, indicating that transaction volume is accelerating faster than market cap growth.
This is bullish for the memecoin, reflecting increased utility and organic demand. Should the trend continue, FARTCOIN’s price might bounce off its recent lows.
Complementing the signals from the daily chart, FARTCOIN’s 4-hour chart also suggests the potential for a rebound.
As the price drifted lower in recent sessions, the Average Directional Index (ADX) failed to rise above 25 — a sign that the downtrend lacks firm conviction.
At the same time, the Relative Strength Index (RSI), which was previously oversold, is now rising.
If this trend continues, FARTCOIN’s price will likely exceed the critical $1.03 support. In that case, the meme coin could climb toward the 0.618 golden ratio at $1.16 and potentially extend its rally to $1.35.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
