Fartcoin (PRC) Shows Signs of Recovery After Dropping 22% in Two Days

Fartcoin, a popular memecoin, has shown signs of recovery after dropping 22% in just two days. The token has begun climbing

Fartcoin (CRYPTO: FARTS) has shown signs of recovery after dropping 22% in just two days. The token is now slowly beginning to climb from its April 18 low of $0.717.

What Happened: Fartcoin successfully breached the $0.62 resistance in March and appears to have confirmed the $0.72 level as support at press time.

The $0.72-$0.8 zone had previously functioned as important resistance in early February, making the bulls’ recent success in pushing beyond this level a crucial development.

On the daily chart, the Relative Strength Index (RSI) indicates that momentum remains in favor of the bulls, although the recent pullback from $0.95 has pushed the RSI lower.

On the four-hour chart, a more complicated picture emerges with mixed signals for traders. Neither the RSI nor the On-Balance Volume (OBV) provide clear signs of short-term bullish movement.

The market structure shows bearish tendencies after the price fell below the $0.8 lower low. However, the bearish order block at $0.82 has been surpassed in recent hours.

If Fartcoin can maintain this bounce and continue higher from this zone, an upward move becomes more likely. Conversely, a four-hour trading session close below $0.81 would signal bearish movement.

In that case, traders might expect a drop to the 50% retracement level at $0.67.

Related Link: Top 5 Crypto Movers: Fartcoin Flies On Funding Rate Surges As Open Interest Reaches 2025 High

Why It’s Important: Data from Coinalyze reveals that Funding Rates for Fartcoin have remained largely negative throughout April, even as the token made price gains, suggesting underlying bearish sentiment in the market.

On April 18, Open Interest saw a major surge as the price fell from $0.78 to $0.73, demonstrating intense bearish activity on that day.

However, over the past 24 hours, the price bounce has been accompanied by a rise in Funding Rate, showing an increase in bullish speculative activity.

The $0.8 level continues to be crucial as support for the memecoin’s performance moving forward.

In other news, a whale sold 2.69 million Fartcoin tokens at a price of $0.92, totaling approximately $2.47 million, earning a profit of $127,000, according to Lookonchain.

The sale had an immediate impact on Fartcoin’s price, which dropped to $0.89 within an hour of the transaction.

This rejection at the $0.92 level formed a bearish engulfing pattern on the one-hour chart, suggesting potential downward momentum in the short term.

Before the whale’s sale, the RSI for Fartcoin stood at 68, indicating overbought conditions, which may have contributed to the subsequent price decline.

Trading volume for Fartcoin on April 21 increased by 15% compared to the previous day, reaching 5.2 million tokens traded.

Against Bitcoin (BTC), Fartcoin dropped from 0.000012 BTC to 0.000011 BTC, representing an 8.3% decrease in value. Similarly, against Ethereum (ETH), the token fell from 0.00018 ETH to 0.00017 ETH, a 5.6% decline.

On-chain metrics showed a spike in active addresses following the transaction, rising from 1,200 to 1,500 within the hour.

The $0.92 level may now represent a key resistance point for Fartcoin, as the large volume of tokens sold at this price could create selling pressure at similar levels in the future.

Traders are advised to monitor whale activities closely, as these large transactions often signal important market movements and can provide insights into potential trading opportunities.

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