- The TD Sequential indicator suggests a possible reversal on the 3-day timeframe.
- Price support at $1.20 is critical to prevent further bearish momentum.
The Solana-based meme coin Fartcoin has sharply declined after months of upward momentum. The token entered the top 100 cryptocurrencies by market cap following a 550% price surge in just two months.
However, at press time, Fartcoin’s price is $1.11, reflecting a 7.62% drop in the past 24 hours.
Crypto analyst Ali Martinez posted a chart on May 3 highlighting the TD Sequential indicator on the 3-day timeframe. The tool flashed a sell signal after the recent rally, pointing to a possible short-term correction. Fartcoin reached a high of $1.28 before closing at $1.11, failing to maintain gains near the 1.618 Fibonacci extension level.
This pattern often appears when a bullish trend starts to weaken. The drop suggests that some traders may begin to lock in gains. Volume also shows signs of reduced momentum, aligning with the sell signal.
Despite the bearish setup, not all analysts share the same outlook. Altcoin Sherpa reported that the $1.20 region remains critical for Fartcoin. If this area holds, he sees the following upside targets at $1.50 and $2.00.
His analysis shows a breakout above previous resistance, now acting as support, with a bullish price structure still intact.
The current range is between $1.10 and $1.28, and its validity will determine the next direction. If buyers step in to defend this zone, the path toward $1.50 may remain open. However, if the range breaks, the recent rally could be classified as a fakeout.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
