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Fartcoin rallies 200% in a week, beats DOGE and SHIB: New ATH ahead?

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Despite Fartcoin’s higher highs price-wise, the OBV has struggled to surge past local highs.

Fartcoin rallies 200% in a week, beats DOGE and SHIB: New ATH ahead?

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  • Fartcoin has reversed quickly from the 61.8% Fibonacci retracement level, setting a new all-time high.
  • Its bullish performance in December was a sign of relative strength.

Fartcoin [FART] has rallied nearly 200% in the past week. It has significantly outperformed Dogecoin [DOGE] and Shiba Inu [SHIB] after beginning its V-reversal on the 13th of January.

At press time, the memecoin was making new highs, even though the rest of the sector suffered.

This sector-wide red in recent weeks does not include Official Trump [TRUMP], which debuted just two days ago and has mostly been in up-only mode on the price charts.

Already at a $2.08 billion market cap, could Fartcoin be the next major meme?

FART breaks $1.6, sets new ATH

FART 1-day Chart

Source: FART/USDT on TradingView

The market sentiment, including Bitcoin’s [BTC] has been bearish over the past six weeks and had only begun to turn over the past week. Even so, FART was able to make higher highs during December.

Its bulls defended the $0.71 level well, which was the 61.8% retracement level.

Yet, despite Fartcoin’s higher highs, the OBV has struggled to surge past local highs. Although it has technically made a new high, it was not too far above the previous ones.

This suggested a lack of strong buying volume.

Meanwhile, momentum has been firmly bullish in recent days. The RSI has not formed a bearish divergence on the daily timeframe, either.

With the $1.95-$2 region claimed as support, bulls could look to push further after some consolidation.

Fartcoin Liquidation Map

Source: Coinglass

The liquidation map noted more cumulative liquidity immediately to the north compared to the southward area.


Realistic or not, here’s FART’s market cap in BTC’s terms


This indicated that the quick reversal over the past week has been accompanied by increased short-selling as market participants expected a minor dip.

This could be due to the belief that the meme is overextended, or even that Bitcoin is due for a correction. Whatever the reasoning, the $2.2 region has been marked as a short-term target for bulls to flip to support.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis. In fact, Akashnath has a particular interest in reading price charts and predicting how an asset will move over the short and long term. A self-taught trader and as someone who holds cryptos himself, he is always on the lookout for the next opportunity he can possibly capitalize on, while also educating his audience.
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