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The Fartcoin price has soared 25% in the last 24 hours to trade at $0.88039 as of 06:07 a.m. EST on an 84% jump in trading volume to $243 million.
Fartcoin Price On A Bullish Trend Reversal
The FARTCOIN/USDT chart on the 4-hour timeframe displays a strong recovery after a recent pullback from its highs. The Fartcoin price initially rallied within an ascending channel but saw a breakdown around December 20th, leading to a retracement that touched support near the 50-day Simple Moving Average (SMA) at $0.86759.
Currently, the Fartcoin price is trading at $0.88039, bouncing from its recent lows and moving back toward the 50-day SMA. The 200-day SMA, positioned at $0.47990, remains a key longer-term support and reflects the ongoing bullish momentum since November.
The chart’s structure indicates that FARTCOIN is attempting to resume its uptrend. However, the breakdown of the ascending channel suggests that resistance near $1.00 will be critical in the short term.
Meanwhile, the Relative Strength Index (RSI) is at 54.62, showing neutral-to-bullish momentum. After dipping into oversold territory during the recent pullback, the RSI has rebounded, signaling a potential return of buying pressure.
The blue Moving Average Convergence Divergence (MACD) line further enables the general bullish outlook, as it has finally crossed above the orange signal line, representing a bullish crossover.
FARTCOIN/USDT Chart Analysis (Source: Tradingview)
Fartcoin Price Prediction
The ongoing rebound in FARTCOIN/USDT suggests a potential test of resistance at $1.00, a psychologically significant level and former support within the ascending channel. A successful breakout above $1.00 could see the Fartcoin price retesting recent highs near $1.30 or higher.
However, if the price fails to break above the 50-day SMA, it could retest support near $0.86759. In a more bearish scenario, a breakdown below this level could expose the price to the next significant support at the 200-SMA around $0.47990.
As the FARTCOIN price soars, investors are also buying the new Solana meme coin Solaxy (SOLX), which 99Bitcoins, a popular crypto channel on YouTube with over 719K subscribers, says might soar 100x after launch.
Solaxy Presale Garners Over $4.9 Million
The Solaxy presale is moving quickly, hitting the $4.9 million mark in just over a week, as it hurtles towards the $5 million mark.
Solana is fast and cheap, which makes it great for busy applications like launching meme coins. However, as more people use it, problems like network slowdowns, spam transactions, and failed processes have become common.
Enter Solaxy, the first Layer 2 protocol on Solana that aims at solving these problems by boosting scalability, increasing transaction throughput, lowering fees, and improving reliability. It acts like an express lane, allowing priority traffic to move smoothly without delays caused by congestion on Solana’s leading network.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
Beyond enhancing Solana’s performance, Solaxy connects with Ethereum, combining Solana’s speed and low costs with Ethereum’s liquidity and security.
Moreover, its native token, SOLX, is multichain, creating a seamless link between the two blockchains.
By buying and holding SOLX, users can also earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 794%.
Investors interested in joining the presale can visit the official Solaxy website to buy SOLX tokens at the current price of $0.001578 each using BNB, ETH, USDT, or bank card.
Buy before a price hike in less than 2 days to secure the best deal.
Visit SOLX here.
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