- FARTCOIN has dropped sharply after failing to break key resistance levels at $1.55 and $1.45, signaling strong bearish control.
- If selling pressure continues, the memecoin could fall below $1.18, but a rally back to $2 remains possible if bulls regain strength.
After weeks of promising price action, FARTCOIN—the Solana-based memecoin that once led May’s crypto charts—is now facing intense bearish pressure. With a 5% drop in the past 24 hours and a 15% decline over the last week, FARTCOIN is officially the worst performer among the top 100 cryptocurrencies.
The memecoin’s downturn began when its price failed to break past the $1.55 resistance level, a historically significant supply zone. This rejection mirrored a previous correction in January, where FARTCOIN plunged from the same $1.55 mark to a low of $0.22. While a similar crash may not be imminent, a swift rebound appears unlikely.
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Technical indicators further reinforce this bearish sentiment. The Relative Strength Index (RSI) is teetering around the neutral zone, suggesting that bullish momentum is evaporating. Similarly, the Awesome Oscillator (AO) has posted three consecutive red bars, indicating weakening buying pressure.
On the 4-hour chart, FARTCOIN has faced multiple rejections—first on May 23 and again on May 27—as bears defended the $1.55 and $1.45 resistance levels. The Bull Bear Power (BBP) indicator remains negative, confirming that bulls have relinquished control.
Adding to the bearish case, the memecoin has now slipped below the 0.618 Fibonacci support level, opening the door for further losses. If the slide continues, FARTCOIN could drop below $1.18, and possibly as low as $0.94, which aligns with the 0.236 Fibonacci retracement level.
However, not all hope is lost. If bulls can regain momentum and push the price above $1.45, a renewed rally toward $2 could be on the cards—though, as of now, that scenario seems distant.
For investors and memecoin enthusiasts, FARTCOIN’s trajectory serves as a stark reminder: in the volatile world of crypto, what goes up with gas can also come down just as fast.
