The Fartcoin price has jumped nearly 40% in the last 24 hours, placing it among the top 100 coins in the crypto market and close to its all-time high of $1.30, reached on December 20.
Currently, Fartcoin is trading for $1.18, with a market cap of $1.17 billion. According to Coinmarketcap, its 24-hour trading volume has risen by 14.21%, reaching about $265 million.
Fartcoin listed on Binance futures
The price increase came after the Binance exchange listed Fartcoin (FARTCOIN) along with other tokens like $AIXBT, $KMNO, and $CGPT.
When Binance lists a token like Fartcoin, it usually causes a price jump and more trading activity. This is known as the “Binance effect.” Binance is one of the largest and most trusted exchanges, which means more traders can access the token.
However, this excitement often brings higher volatility. Many early buyers or speculators see the listing as a chance to take profits, which can lead to a sudden drop in price or even a crash.
That’s why, despite the price surge, experts are cautioning traders of an upcoming price crash. While the price is just 9.06% below its all-time high, technical indicators suggest a possible drop, meaning it may not reach the previous price of $1.30 right now.
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Theo, a crypto trader, looked at FARTCOIN’s price chart and found a triple top formation. This pattern often signals a potential price reversal.
Theo expects the price to fall to the range of $0.30 to $0.40 in the next few days, indicating a bearish trend. He mentioned “shorting with size,” which means selling the asset in anticipation of lower prices. If his forecast is correct, it could lead to significant losses for traders.
FARTCOIN/USDT technical analysis
Technical indicators for FARTCOIN show mixed signals. The FARTCOIN/USDT chart indicates a consolidation phase after a sharp increase around 2 a.m. UTC today. The price is currently around $1.15.
This sideways movement shows a temporary balance between buyers and sellers as the market decides its next move. The RSI is at 38, close to the oversold zone (below 30), which might suggest a possible price rebound if buying activity increases.
In the short term, if the RSI drops further into the oversold zone and buyers enter the market, the price could rise toward the $1.20 resistance level or higher.
There is also a risk of a price drop due to a lack of bullish momentum and the RSI still being above 30, which allows for further declines. That said, without an increase in trading volume or strong buying interest, FARTCOIN may struggle to maintain its current level, potentially falling to around $0.8.
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