April 2 Crypto News – Fartcoin’s 35% Surge: What’s Driving the Recent Momentum?
April 2 Crypto News – Fartcoin (FARTCOIN) experienced a 40% correction recently, primarily due to the broader bearish Bitcoin (BTC) market. However, as of April 1st, the memecoin has bounced back, gaining 35% from its low of $0.383.
Bullish Indicators Begin to Surface
On the 1-day chart, Fartcoin appears to be reversing its bearish trend. The 20-day and 50-day moving averages (MA) formed a bullish crossover on March 28, signaling a potential shift in momentum. The 20-day moving average has also been acting as dynamic support, helping to maintain the uptrend.
Volume Indicators Signal Increasing Buying Pressure
The Chaikin Money Flow (CMF) briefly rose above +0.05, indicating potential capital inflows, although it quickly returned to neutral territory. Meanwhile, the On-Balance Volume (OBV) is on the verge of surpassing late February highs, indicating rising buying pressure, even if not overwhelming.
The fact that Fartcoin has already surpassed the $0.3615 resistance level and flipped it to support further strengthens the bullish case. The next potential resistance level lies at $0.619, a critical point to watch for confirmation of the continued bullish structure.
Support Levels and Potential for Further Gains
On the 4-hour chart, Fartcoin’s price has formed a possible range, with $0.508 acting as support and resistance. Bulls are hoping to see $0.508 flip to support, enabling a potential rally toward the short-term high at $0.63, and potentially higher.
With significant liquidity pockets above the current price at $0.556, $0.60, and $0.64, the likelihood of Fartcoin climbing toward the $0.64 range is higher than a reversal back to $0.38. Traders may anticipate a move towards these levels in the coming days.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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