Quick overview

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Fartcoin’s crash in the past week added a bearish outlook on the meme token. Several technical indicators show a clear bearish turn in momentum.

The momentum indicator points to a dramatic increase in bearish momentum as the RSI at 45 falls below the midpoint and the MACD approaches crossing below its signal line.

The token is currently struggling to stay above $1. If it falls below the psychological support level of $1, the immediate support is at $0.92, which aligns with the low on May 7. Some traders choose to stay out of the market, while others view the current decline as a unique opportunity to purchase.

Though recent losses have positioned Fartcoin among the day’s top losers, savvy investors are still entering the market, and the fuel for its rise may just be beginning as technical indicators turn bullish and rumors about Binance circulate.

The Solana meme token has lost nearly a fifth of its value, indicating a significant shift in momentum.

The recent pullback has put technical pressure on the price, and chart indicators point to a potential trend reversal. The EMA lines in the meme token almost form the death cross, a bearish signal which precedes protracted downtrends.

Future gains are being solidified by a bullish MACD crossover, rising open interest, and a recovery from the psychological $0.7 level, where whale activity peaked. Nowadays, many traders view that level as a starting point for a breakout or a quick shakeout.

The number of active wallet addresses has surged since the listing, with an increase in momentum and trading volume. Real capital inflows and meme coin enthusiasm combine to maintain high social sentiment. However, some hesitation remains