Fartcoin trades at $1.17 after a 2.61% daily decline.
Market cap drops to $1.17B as trading volume falls over 55%. Fartcoin (FARTCOIN) faced renewed selling pressure today. After briefly touching a high of $1.29, the token fell by 2.61% and currently trades at $1.17. This decline aligns with a broader contraction in market activity.
The 24-hour trading volume plunged by over 55.36%, settling at $251.97 million. Consequently, the market capitalization dropped by 2.51%, now standing at $1.17 billion, with a market-cap ratio of 21.72%.
Despite near-complete circulation of 999.99 million FARTCOIN out of a max supply of 1 billion, the asset failed to sustain momentum. The declining volume alongside the price dip reflects weakening buyer conviction.
Fartcoin Faces Technical Weakness Amid Fading Momentum
From a technical standpoint, Fartcoin trades just above its recent support around $1.10. A clean break below this level could open the door to further downside toward the $1.00 psychological support. Conversely, resistance stands near $1.29. If bulls reclaim that area with conviction, price action could extend toward $1.40, where recent rejection occurred.
The Relative Strength Index (RSI) sits at 49.35, hovering below the neutral 50 mark. This placement indicates a lack of clear directional momentum. Moreover, the RSI remains beneath its simple moving average of 47.19.
At this point, market participants appear uncertain, especially as the Chaikin Money Flow (CMF) reads -0.06, suggesting outflows outweigh inflows. Such a negative CMF often accompanies distribution phases and short-term bearishness.
The volume histogram supports this weakening structure. Recent down days have seen heavier volume compared to green candles, validating bearish pressure. Additionally, no bullish crossover has emerged in the moving averages.
Taken together, Fartcoin remains in a vulnerable position. While price attempts to consolidate near key support, indicators offer little evidence of bullish reaccumulation. Unless volume returns alongside a break above $1.29, momentum could continue fading.
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