FARTCOIN makes an all-time high and starts showing signs of diminishing momentum. Will a correction proceed to form?
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Key Takeaways
FARTCOIN hit $0.92, completing Wave 3 near key resistance.
RSI shows bearish divergence, signaling a Wave 4 correction.
Strong support lies at $0.70-$0.53, with Wave 5 targeting $1+.
FARTCOIN has experienced a strong bullish rally, reaching an all-time high of $0.92 on Dec. 17, marking the likely completion of Wave 3.
The price shows slowing momentum, indicating a corrective Wave 4 pullback toward key Fibonacci support levels before resuming its bullish trend in Wave 5.
The daily Fartcoin chart shows a strong bullish 5-wave impulse, with the price currently in Wave 3 near the 1.618 Fibonacci extension ($0.84).
This uptrend followed a breakout from a descending channel (Wave 2), signaling upward momentum before Wave 4 consolidation began to form.
On Dec. 17, FARTCOIN reached an all-time high of $0.92, likely the end of this upward advancement. We saw diminishing momentum after reaching the typical Fib level target.
FARTCOINUSD price got overbought | Credit: Nikola Lazic/TradingView
Wave 3 reached key resistance near $0.85-$0.90, aligning with the 1.618 extension. A corrective pullback (Wave 4) is likely toward $0.70-$0.58 support (1 and 0.786 Fib levels) before resuming bullish strength into Wave 5.
The daily Relative Strength Index (RSI) remains elevated, indicating overbought conditions and the need for a cooldown.
The final bullish target for Wave 5 aligns with higher Fibonacci levels: 2.0 ($1.00), 2.272 ($1.12), and 2.618 ($1.27).
These levels will be critical as upward momentum resumes. A breakdown below $0.58 could invalidate this bullish setup and deepen the correction.
Key Observations
The price is in Wave 3, near the 1.618 Fibonacci extension ($0.84).
A breakdown below $0.58 could invalidate the bullish wave count.
FARTCOIN Price Prediction
The hourly FART chart shows Wave 3 nearing completion, with a corrective ABC structure forming for Wave 4.
The price is consolidating below $0.86, with initial signs of bearish divergence on the RSI, indicating a potential pullback to Fibonacci retracement levels before Wave 5 resumes.
FARTCOINUSD correction likely to proceed | Credit: Nikola Lazic/TradingView
The Fibonacci levels highlight key support zones for Wave 4: the 0.236 level at $0.74, 0.382 at $0.62, and 0.5 at $0.53.
If the correction deepens, stronger support lies at the 0.618 retracement ($0.44). Resistance remains firm at the previous high of $0.86-$0.92.
Momentum remains elevated, but the RSI shows a clear downtrend, supporting a corrective move. A bounce from support around $0.62-$0.53 would confirm Wave 4 completion, with Wave 5 likely targeting Fibonacci extensions of $1.00 and $1.10.
RSI Confirmation: Bearish divergence signals the potential for Wave 4 correction.
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.
Nikola Lazic is a cryptocurrency analyst and investor working in the industry since 2017. He holds a bachelor's degree in Sociology, which enables him to better understand the psychology behind the crowd´s positioning. Consequently his preferred analytical tool is Elliott Wave Theory in combination with price action analysis.
Combining his experience in trading and investing with knowledge in content writing he strives to bring the most accurate and actionable information.
