Fartcoin Price Prediction After Hitting ATH: Will It Hit $2?

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As a seasoned crypto investor with a knack for spotting trends, I must admit that the Fartcoin price surge has caught my attention. With my years of experience in the market, I’ve seen many coins rise and fall, but this one seems to be bucking the trend.

The technical analysis is quite compelling. The record high futures open interest, combined with the break and retest of the crucial resistance level, suggests that Fartcoin might indeed hit $2 soon. However, as a wise investor once said, “Bull markets climb a wall of worry,” so I’m keeping a close eye on potential pitfalls like a possible false breakout.

The coin’s meteoric rise reminds me of the VIRTUAL price forecast we made earlier, where we predicted a slide due to FOMO. While Fartcoin has attracted its fair share of FOMO, it seems to be handling it better than VIRTUAL did. But then again, as they say in crypto, “never underestimate the power of a good dump.”

In jest, I’d like to add that if Fartcoin does hit $2, I might just have to change my investment strategy from HODL to HOLD MY NOSE!

As a crypto investor, I’ve been thrilled to witness Fartcoin’s impressive price rally this week, soaring for five consecutive days and hitting an all-time high. The trading volume and futures open interest have significantly increased, suggesting a strong market momentum. Moreover, it has successfully flipped a key resistance level, which could potentially propel its value towards the $2 mark.

Fartcoin Price As Futures Open Interest Hits A Record High

The cost of Fartcoin has been climbing steadily, pushing it up to become the fifth largest meme coin on the Solana platform, boasting a market capitalization of approximately $1.4 billion. This increase has been accompanied by increased trading activity in the open market and a significant rise in its value.

Based on data from CoinGecko, the 24-hour trading volume reached an unprecedented peak of $244 million, a level not seen since December 20th. Simultaneously, the open interest in its futures contracts surpassed $136 million, also reaching a new record high. This substantial growth comes after the figure was only around $20 million on December 22nd. Such developments suggest that the price of Fartcoin may be picking up speed, potentially driven by the ongoing fear of missing out (FOMO).

Fartcoin Token Technical Analysis

The cost of Fartcoin has skyrocketed by more than 8,800% since its low points in November, with indications suggesting further increases in the short term according to technical analysis.

The daily graph indicates that the token surpassed a crucial resistance threshold, previously carrying significant potential risks. It climbed beyond this resistance at $1.3050, marking the peak from both December 20th and 25th of last year.

Moving beyond the $0.5760 mark, Fartcoin broke up a potential triple peak structure, which resembles a double peak formation but includes an extra peak. Typically, when an asset creates a triple peak, it tends to experience a significant drop in value during most market periods.

For Fartcoin, it surpassed the triple-resistance point and later went back to test it again. A ‘break and retest’ scenario occurs when an asset breaches a crucial resistance level, checks that level again, and then follows its initial trend direction.

Fartcoin Price Targets

Consequently, these patterns imply a potential continued increase in the Fartcoin price, potentially reaching the psychologically significant mark of $1.5. Surpassing this level with strong trading volume would enhance the likelihood of the price reaching $2.

Conversely, it’s also possible that the price surge beyond the triple-top level at $1.3050 might be a deceptive breakout. In such a scenario, the coin could potentially plummet, and the significant level to keep an eye on would then shift to $1.00.

The rising popularity of Fartcoin, fueled by FOMO, suggests a potential drop in its price according to the Wyckoff Method’s markup phase. As previously forecasted in our analysis, this could be an indication that the coin might follow suit and experience a decline as it approaches the markdown phase, similar to what happened with VIRTUAL which plummeted by more than 18%.

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2025-01-03 16:00