- Fartcoin has risen by 32.69% for the past 24 hours.
- In the midst of rising speculative demand with good news for crypto markets, Fartcoin has capitalized.
While the cryptomarkt recovered after the announcement of Trump from a crypto reserve, Fartcoin [FARTCOIN] Made a strong revival.
It is striking that the memecoin enriched from a low of $ 0.23 to $ 0.36, with 32.69% in 24 hours. Fartcoin left this as the best profit at Memecoins.
In the same period, the trading volume of the Memecoin rose by 266.51% to $ 193.91 million, while open interest rose by 14% to $ 157.8 million.
Prior to these profits, Fartcoin had fallen under a strong downward pressure with 62.35% on monthly graphs. With the recent price pump, the question is whether Fartcoin can support them.
Can Fartcoin retain its profit?
According to the analysis of Ambcrypto, Fartcoin experiences the short -term question. The rising demand was proven by the recent Bullish Crossover on his RSI.
Fartcoin saw a strong question in the past day, with his RSI from 36 to 43, which made a bullish crossover.
This suggested that buyers had come on the market last day to collect memecoin and displaced sellers, which resulted in higher prices.
Source: TradingView
This requirement was proven by the falling place Netflow.
According to Coinglass, the spot exchange of Fartcoin became negative and reached -133.21k after previously spiking to $ 1.02 million.
So, after a strong sales pressure, buying activity on the past day, which resulted in more exchange outflow. When the outflow rises, this reflects strong positive sentiments when investors accumulate.
Source: Coinglass
This bullishness was further proven by more investors who took long positions. According to Coinalyze, 56.63% of investors took long positions, while 43.37% failed.
This implied that most investors expected the prices to return in the short term, which reflects Bullish Sentiments.
Source: Coinalyze
Finally, the aggregated financing percentage of the memecoin was positive in the past day, which further confirms the shift in market sentiment.
A positive financing rate means that Longs was a lot of demand for it and that they pay a premium allowance if prices fell.
Source: Coinalyze
Simply put, Fartcoin experiences Bullish Sentiments in the short term. After positive crypto news, the markets see a high speculative demand.
If this speculative demand can stimulate the market and increase organic demand, the memecoin can retain the recent profits.
So, if the current conditions apply, Fartcoin could reclaim $ 0.42. Conversely, because bears are still on the market when speculation disappears, the memecoin could fall to $ 0.29.
