Fartcoin: This is why $ 2 is still a possibility despite a 11 % decrease star-news.press/wp

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Fartcoin decreased by 11 % in the last 24 hours. Low prices may have resulted from resistance at $ 1.53 and a decrease in open interest. However, derivative traders believe that the target is 2 dollars.

Fartcoin (Fartcoin) Waves were made in the Meme sector recently, along with SPX6900, despite its launch last year during the noise of Crypto Ai Memecoins.

Memecoin went to the upward trend last week, but the past 24 hours, from the time of the press, has proven difficult.

At the time of this report, Fartcoin decreased by more than 11 %, with pricing at $ 1.53. Aside from achieving the usual profit of whales, what can affect this decrease?

Why did Fartcoin decrease?

The Fartcoin price procedure has proven to have achieved a major obstacle to the price when it reached $ 1.53.

The timeline scheme for 4 hours reversed remarkable progress with Fartcoin before it encounters the highest level causing a decrease to a range of $ 0.80.

Meanwhile, the size of 24 hours decreased to $ 683 million from an increase of $ 1.5 billion. This increased the price of the price to the decrease to the level of $ 1.10. If this level fails to keep it, Fartcoin may return to one dollar again.

Source: TradingView

Fartcoin may decrease to less than one dollar and reconsider the level of $ 0.80, which may lead to side prices. This would reflect the previous price reaction in the same area.

Meanwhile, open benefits (OI) decreased from $ 1.05 billion to 857 million dollars, at the time of the press, indicating a decrease in trading participation.

In addition, the daily trading volume decreased to the FDMC ratio to 0.086, a decrease from 1.0 earlier this month, indicating a sharp decrease in the basic activity in relation to the market value.

However, this percentage has now begun to recover, indicating a possible reflection and renewed interest in the mechanics.

Source: Coinglass

Show more analysis that Liquid height (noise) The majority of Fartco’s OI ordered about $ 342 million. This was more than double the second -place clothes.

However, he puts it in a great position to measure how most merchants were thinking in terms of their future path.

Everything is not lost!

When measuring the feelings of merchants through excessive liquid decentralized exchange, a different opinion appeared. The majority of merchants here saw that Fartcoin could still reach approximately $ 2.

Source: Coinglass

About $ 9.56 million of cumulative short liquidation is concentrated at the price area of $ 1.939, indicating that this level is a major battlefield.

This may indicate that some buyers briefly make their long jobs to secure profits or reduce losses. Instead, sellers may look at $ 1.939 as a perfect entry point for deeper negative movements.

Despite the constant correction, this setting means that Fartcoin still has the ability to reach $ 2, especially if the momentum turns in favor of the bulls.