Christmas Rally Secured, What Next?
Cryptocurrencies appear to be experiencing a surge on Christmas Day, especially the memecoin that has recently attracted the attention of the wider market – Fartcoin (FARTCOIN). In the past 24 hours, the price of FARTCOIN increased by 60%, outperforming all other meme coins in the top 100.
As a result, the cryptocurrency’s market capitalization recovered and once again topped $1 billion in market capitalization. But what happens after that?
Fartcoin sees bullish sentiment and new demand
Yesterday, Fartcoin was trading at $0.74 after the latest adjustment. However, during the same period, BeInCrypto Predictiveusing multiple indicators, suggests that the market cap of meme coins may soon climb to $1 billion again.
Less than 24 hours later, FARTCOIN’s value rose to $1.20, and it currently has a market cap of $1.2 billion. Based on our findings, this significant rally may be related to improving sentiment and growing demand for the coin.
On December 22, weighted sentiment for the coin fell into negative territory. Weighted Sentiment measures the market’s opinion of a cryptocurrency. Positive readings reflect bullish commentary, while negative readings indicate bearish sentiment.
As shown in the chart above, sentiment readings have bounced back into positive territory, indicating Most comments about FARTCOIN Very optimistic now. If this trend continues, the coin’s value could climb and potentially reach new all-time highs in the short term.
Additionally, Chaikin Fund Flow (CMF) shows that demand has also surged due to the positive sentiment surrounding it. same corner. CMF measures the flow of funds in and out of cryptocurrencies, helping to determine levels of accumulation (buying) and distribution (selling).
When CMF rises, it indicates greater buying pressure. Conversely, a decline in the indicator’s rating indicates selling pressure. Looking at the daily chart, the CMF reading has increased significantly, indicating that Fartcoin price will continue to rise in the short term.
FARTCOIN PRICE PREDICTION: $2 TARGET NOW CLOSED
Meanwhile, a closer look at the 4-hour time frame reveals: FARTCOIN FACES RESISTANCE $1.25. Unable to break this barrier, the price returned to $1.20
However, Bull Bear Power (BBP) suggests that the pullback may not last long. BBP shows whether the power of buyers (longs) exceeds the power of sellers (shorts) or vice versa.
Positive readings favor bulls, while negative readings indicate strong bearish pressure. Since it’s the latter, FARTCOIN prices will likely continue to rise. If the verification passes, then Solana Meme Coin A move above the candle’s top level of $1.30 is possible and could climb to $2.
On the other hand, this may not happen if the selling pressure increases under the control of the bears. Conversely, FARTCOIN could drop to $0.88, nullifying the Christmas rally.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
