Comprehensive Technical Analysis of Fartcoin (FARTCOIN) for June 18-19, 2025

1. Trend Analysis & Price Action

• Macro Trend: Since late March 2025, Fartcoin exhibited a strong bullish advance, climbing from the $0.35–0.50 range to recent highs above $1.40. Throughout April and May, surges were followed by deep corrections, typical of high-volatility altcoin cycles. The last 30-day price action has been characterized by growing volatility with both higher highs and sharp drawdowns.
• Recent Trend: After the early June dip to ~$0.94 (June 4) and the subsequent rally to $1.38 (June 10), the asset corrected again to $1.10. In the past 48 hours, there has been a low at ~$1.05, followed by a sharp bounce to the current $1.1465. This suggests that bulls defended the $1.05–$1.10 zone, making it a short-term support.

2. Support & Resistance Levels

• Supports:
  • $1.05 (multi-hour lows)
  • $1.03 (June 5 close)
  • $0.95–$1.00 (prior range lows)
• Resistances:
  • $1.20–$1.25 (round-number psychological/previous pivots)
  • $1.29–$1.32 (local tops on June 14–16 and again around May 29)
  • $1.35–$1.40 (recent swing highs)

3. Volume & Volatility Analysis

• High Volume Moves: Explosive moves to the upside (e.g., May 21, June 9-10) were met with immediate selling and increasing volume on the tops, suggesting volatility spikes align with distribution. Current intraday volumes are lower than peak, but higher than average, indicating ongoing interest and active positioning.
• ATR (Average True Range): Recent daily ATR is ~$0.09–$0.16, highlighting the strong price swings and supporting the case for sharp moves in either direction.

4. Chart Patterns & Candlesticks

• Hourly: The current hourly candles (June 18) show successive higher closes, culminating in a strong bullish engulfing bar into $1.1465 with a modest wick — indicating renewed buyer aggression.
• Daily: The last 5 daily candles print long lower wicks and strong closes off intraday lows, a classic sign of market absorption and bottom fishing.
• Formation: The price action since June 13 forms a descending wedge, which statistically resolves with an upside breakout—something now occurring intraday as price breaks above the 12–24h range.

5. Moving Averages (MA)

• Short-term (10/21 EMA): The current price has just reclaimed the 10-period EMA (approx $1.13), often a trigger for algo-based momentum players. The 21-EMA (~$1.14) is being tested. A clean daily close above signals short-term trend reversal.
• Long-term (50/100 MA): The trending 50-MA is below at ~$1.11 and the 100-MA at ~$1.08. With price surging above both, short-term buyers are likely to pile in above these averages.

6. Momentum Oscillators

• RSI (Relative Strength Index):
  • Hourly: RSI surging from 45 to over 65 in the past 3 hours, but not yet overbought (>70). Bullish but not exhausted.
  • Daily: Rising from the low 40s toward 55-60; plenty of room left before overbought conditions return.
• MACD: On both hourly/daily frames, MACD lines are crossing upward, supporting the view that a bullish reversal is underway. The histogram is expanding positively for the first time since the recent pullback.

7. Order Flow & Market Structure

• Order Block: Large buy walls were observed near $1.09–1.11 over the past 12 hours, repeatedly absorbing downward spikes. This suggests market makers or whales are defending this zone aggressively, setting a "trap" for short sellers.
• Liquidity Hunt: Rapid spikes in both directions followed by fast rejections of lows indicate active stop loss hunts and liquidation events, typical in altcoin cycles before upward continuation.

8. Fibonacci Retracement Analysis

• From June 10 high ($1.385) to June 17 low ($1.098):
  • 23.6%: $1.17
  • 38.2%: $1.21
  • 50%: $1.24 Current price is just below the 23.6% level. This suggests more upside room as retracement legs to 38.2% and 50% are common in corrective rallies.

9. Elliott Wave Structure

• Primary Count: The recent move from $1.39 toward $1.09 may have completed a Wave A (impulse down) and Wave B is forming now, targeting $1.20+ before a possible C leg down. However, the strength and depth of the new rally could invalidate further downside if $1.25 is reclaimed.

10. Sentiment & Catalysts

• Momentum: The sharp rebound from $1.05–1.10 after persistent selling shows buyer conviction and a likely shift in sentiment. Decreasing volatility on down moves but sharp increases on up moves often precede trend continuation.
• News Flow: No new news is recorded, indicating pure technicals are presently in control.

Consolidated Strategy & Prediction

• Bias: Bullish. Multiple signals (breakout from descending wedge, MA recapture, upward momentum confirmation, absorption of sell pressure at support) suggest a continuation toward higher fib retracement levels.
• Entry: An optimal long will be opened on a minor retrace toward recent support at $1.13–$1.14, riding the momentum from the early phase of this breakout.
• Target: Short-term upside target is the $1.20 area (38.2% fib retrace; recent congestion and psychological level), with possible overshoots to $1.24 if the rally accelerates and order flow intensifies.
• Risk Management: If price breaks and closes below $1.10, the bullish thesis is invalidated for the short-term. Stop losses should be placed accordingly (not required here, as only entry/exit prices are requested).

Conclusion

• Decision: Buy/Long position is optimal at $1.14 (current support/MA recapture zone), targeting a move toward $1.20–$1.24 for the next 24 hours, with potential for further upside if the $1.25 area is broken. Sellers are currently trapped below $1.10, and momentum is in favor of bulls.