- Fartcoin has a short -term lowering feeling, based on negative financing rates in recent weeks
- Its price action showed an optimistic perspective after the earnings of last month
The popular same fartcoin (Fartcoin) dropped by 22% in two days, but climbed higher from April 18 to $ 0.717. On deadlines 1 and 4 hours, the token has bullish potential.
The graph of the lower time has shown that a decline at $ 0.67 was possible, but also highlighted a key level that traders fought to control.
Fartcoin merchants can be optimistic, but …
Source: Fartcoin / USDT on tradingView
The graphic for a day has shown a bull market structure for the same. He exceeded the resistance of $ 0.62 earlier in March, and at the time of the press seemed to have confirmed the level of $ 0.72 as a medium.
The area from $ 0.72 to $ 0.8 had been a significant resistance in early February.
Consequently, the recent success of the Bulls of Fartcoin in the conduct of the price beyond this level was an encouraging spectacle. In addition to the bullish structure, the RSI pointed out that the momentum remained in favor of the Bulls.
Last week’s decline by $ 0.95 pushed the RSI below to indicate the silent momentum and attenuated the upward trend of the OBV.
However, swing traders can remain optimistic. The OBR maintained its upward trend last month.
Source: Fartcoin / USDT on tradingView
On the 4 -hour table, prices action gave mixed signals. The RSI and the OBR gave clear short -term bubble signs. The market structure was down once the price fell below $ 0.8 tank.
The lower $ 0.82 (red) lowering control block was a short -term key resistance, but it has been exceeded in recent hours. If Fartcoin can bounce higher from this area, a higher movement would be more likely.
Meanwhile, a 4 -hour negotiation session at the closure of $ 0.81 would be a lowering signal. In this case, a drop in retraction of 50% to $ 0.67 would be the next decision expected.
Source: Coanyze
Coanyze data has shown that the funding rate has been mainly negative this month, even if Fartcoin has produced significant price gains. It suggested the lowering feeling.
On April 18, the OO saw a major increase as the price went from $ 0.78 to $ 0.73. This example showed an intense lowering feeling that day.
In the past 24 hours, the price rebound was accompanied by an increase in the funding rate, showing a bullish speculative activity.
The conviction in the same performance could explain the negative Fartcoin financing rate. Its price graphics presented a clearer image and the importance of $ 0.8 as a support.
Notice of non-responsibility: The information presented does not constitute financial investments, exchanges or other types of advice and is only the opinion of the writer
