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Even more worrying is that the memecoin risks breaking down from the $0.32 horizontal support area today, which is the only thing preventing the price of FARTCOIN from plunging to new lows.
In addition, the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are bearish. The RSI is below 50, and the MACD is negative, both of which are signs of a bearish trend.
The weekly time frame makes the possibility of a crash even more precipitous, since FARTCOIN trades above the $0.20 horizontal support area.
Since there is no more support left under the current price, a breakdown from the $0.94 area could take the price down to $0.40, approaching the cycle lows.
If FARTCOIN loses its $0.32 level and SPX6900 confirms a breakdown below $0.94, both could face sharp sell-offs toward new cycle lows.
Momentum indicators reinforce the bearish outlook, suggesting that the memecoin correction could accelerate in the days ahead unless buyers step in soon.
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.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
