16 January 2025
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Fartcoin Surges 25% as It Approaches New All-Time High
In the last 24 hours, Solana meme coin FARTCOIN has increased by 25%, aiming for a breakout above its all-time high of $1.60. It has rallied 65% over the past three days and shows weekly gains exceeding 40%. Currently, FARTCOIN trades at $1.20, with daily trading volumes up 72% to $147.6 million. Open interest has risen 22% to nearly $160 million.
Price Rally Factors
- Price recovery followed a correction to $0.75 after a previous 50% drop.
- Bullish MACD crossover signals potential continued upward movement.
- Market optimism and Bitcoin's performance may influence altcoin trends.
- Chaikin Money Flow indicates investor hesitation, reflecting cautious market behavior.
Future Projections
- FARTCOIN gained over 67% recently, nearing $1.27, just 30% away from its all-time high.
- Support level identified at $0.98; maintaining this could lead to targets of $1.266, $1.5828, and $1.8994.
- If support fails, a retreat to $0.69 is possible, risking further losses.