FARTCOIN Price Prediction: Will the Solana-Based Meme Coin Sink or Surge?

Solana-based meme coin FARTCOIN has steadily declined over the past week. It has shed 31% of its value in the past seven days amid waning demand.

Solana-based meme coin FARTCOIN has seen a rough past week, with its price decreasing by 31% amid waning demand. This price decline has brought the meme coin to a two-month low.

As a meme coin, FARTCOIN is known for its volatile price movements and its lack of inherent value or utility. Meme coins are typically created as a joke or to poke fun at the cryptocurrency market, and their prices are largely driven by hype and speculation.

According to recent observations, FARTCOIN has fallen below the 20-day exponential moving average (EMA), which now serves as a dynamic resistance level. At press time, this key moving average is situated at $1.04, indicating that FARTCOIN faces challenges in breaking above this level if demand continues to weaken.

An asset’s 20-day EMA is a technical indicator that reflects the average trading price over the past 20 days, with more weight given to recent prices to highlight short-term trends. When an asset’s price dips below this moving average, it usually signifies a bearish shift and weakening momentum. This suggests that selling pressure is increasing for FARTCOIN, and the asset could continue declining if demand doesn’t pick up.

Furthermore, FARTCOIN's decreasing Relative Strength Index (RSI) also points toward weakening buying activity in the market. At press time, FARTCOIN’s RSI stands at 40.22.

This momentum indicator measures an asset’s market conditions on a scale of 0 to 100, with values over 70 indicating that an asset is overbought and might be due for a correction. On the other hand, values below 30 suggest that an asset is oversold and might be set for a rebound.

At 40.22, FARTCOIN’s RSI indicates that the asset is in a bearish zone but not yet considered oversold, suggesting decreasing momentum and increased selling pressure.

According to readings from FARTCOIN’s Fibonacci Retracement tool, the Solana-based meme coin might drop to a two-month low of $0.14 if buying activity remains weak. The last time the token traded at this low was on December 3.

However, if market sentiment shifts and buyers increase demand for FARTCOIN, they could push its price above the 20-day EMA dynamic resistance at $1.04 and drive it toward $1.13.