The post FARTCOIN traders turn cautious! – A 45% dip could be on the horizon IF… appeared on BitcoinEthereumNews.com.

FARTCOIN traded near $1.27 after an 8.5% daily gain, but volume dropped 35% as traders backed off. Spot Inflows hit $225.78K, suggesting holders may be preparing to exit following the meme coin’s parabolic run. Amid the ongoing volatility, Fartcoin [FARTCOIN] was showing signs of weakness, with both the price action and market sentiment indicating a potential downtrend in the coming days. This bearish speculation emerged after the memecoin rallied over 70% in the past month. Price rallied, but traders turned cautious At the time of writing, FARTCOIN traded near $1.27—up 8.5% in the last 24 hours. This surge in price was recorded after the meme coin hit a key support level. Amid this volatility, traders and investors appear to be avoiding participation in the memecoin, leading to a 35% drop in its Trading Volume compared to previous days. Traders appeared over-leveraged at the $1.175 level on the lower side (support) and $1.309 on the upper side (resistance). At these levels, they have built $15.17 million worth of long positions and $1.81 million worth of short positions, respectively. Source: CoinGlass These substantial positions have been built over the past 24 hours, indicating a bullish signal on the short time frame. FARTCOIN price action and upcoming levels  According to AMBCrypto’s technical analysis, FARTCOIN appears bearish as it is poised to break its key support level. On the daily time frame, the memecoin has formed a bearish rising wedge pattern, making higher highs and higher lows while taking support and resistance from the upper and lower boundaries. As the price continued to rise, the pattern became increasingly squeezed, and with the recent market dip, the price reached the lower boundary and is on the verge of breakdown. Source: TradingView If FARTCOIN closes below $1.15 on the daily chart, a 45% drawdown could follow,…

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Filed under: News - @ May 18, 2025 6:18 pm