• Fartcoin has climbed to $1.17, posting a 32% increase.
  • The daily trading volume has jumped by over 95%.

After the market crash, crypto assets opened the day on a brief recovery note. The largest asset, Bitcoin, has approached $79.9K, with other assets mirroring the uptick. Meanwhile, Fartcoin leads the gainers list with a 32.46% jump.

In the early hours, Fartcoin traded within the bottom range of $0.4123. Gradually, the bullish shift helped the asset mount to a peak of $0.6057. At press time, Fartcoin trades at around $0.5781 with its daily trading volume reaching $367 million.

Fartcoin has gained over 131% in the past thirty days. The asset began trading within the $0.2038 and later hit a monthly high of $0.6312. The price managed not to fall below $0.35 and reached the current trading level.

Is Fartcoin’s Rally Built to Last?

The four-hour price trajectory of Fartcoin reflects the positive momentum. The asset has the potential to push the price higher to the $0.6038 range. Assuming a further upside, it could test the crucial resistance at $0.6050.

Contrarily, if the bears took control of the asset, the price could fall to $0.5876. In case Fartcoin fails to hold this level, the price might sharply decline and retest the $0.57 mark and may pull back to its former lows. 

Fartcoin Pumps 32%: Is It A Rally Or A Reversal Next? image 0 FARTCOIN chart (Source: TradingView )

Fartcoin’s Moving Average Convergence Divergence (MACD) line has crossed above the signal line, implying an upward price movement. Besides, the Chaikin Money Flow (CMF) indicator at 0.02 hints at a brief money inflow. Meanwhile, Fartcoin’s daily trading volume is up by over 95.17%.  

Moreover, the asset’s daily relative strength index (RSI) at 68.40 is nearing the overbought territory . The Bull Bear Power (BBP) reading of 0.1565 suggests that the bullish momentum is slightly in control of the market.

Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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