Fartcoin Hits 3-Month High Amid Bullish Momentum
Key Takeaways
- Fartcoin hits a 3-month high at USD 1.25
- Daily gain of over 12% amid strong trading volume
- Open interest up 14.3% – traders betting on further gains
- Negative spot net inflow – a sign of accumulation
- Technical indicators point to continued upward trend
Fartcoin surprises with strong price jump
Fartcoin (Ticker: FARTCOIN), a memecoin with a growing community, surged by 12.23% within 24 hours. The price climbed to USD 1.25 – the highest level in three months. Since its low of USD 0.41, the coin has been in a steady upward trend.
Trading volume and open interest rise significantly
Fartcoin’s trading volume rose by 39% over the past 24 hours to approximately USD 2 billion. At the same time, open interest – the total value of open derivative contracts – increased by 14.3% to USD 611 million. This suggests that many traders are opening new positions and betting on rising prices.
Funding rate remains positive – long positions dominate
The funding rate, an indicator of market sentiment in futures contracts, remained consistently positive over the past week. This means that the majority of market participants expect further price increases. Traders are paying a fee to hold long positions – a clear sign of bullish expectations.
Negative spot net inflow – a sign of accumulation
Another important indicator is the spot net inflow, which has been negative for four consecutive days. In other words, more Fartcoins were withdrawn from exchanges than deposited. This typically indicates accumulation – that is, investors are holding onto their coins rather than selling them.
Technical analysis: Momentum supports continuation
The Stochastic RSI (Relative Strength Index) is currently at 89.6 – a value indicating strong momentum. A bullish crossover occurred three days ago, confirming the current upward trend. The classic RSI also shows increasing buying momentum.
What’s next for Fartcoin?
If current demand continues, Fartcoin could reach the USD 1.40 mark in the short term. However, a short-term correction is also possible if many investors decide to take profits. In that case, the next support zone would likely be around USD 1.16.
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Our assessment
Fartcoin is currently showing strong market performance, driven by high demand, positive technical indicators, and growing interest from institutional traders. However, caution is advised: Memecoins are volatile and heavily influenced by market sentiment. Anyone investing should have a clear risk management strategy and not rely solely on short-term price gains.
Sources
- Santiment
- CoinGlass
- TradingView
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