Fartcoin Plummets 40% Amid Memecoin Market Decline

Fartcoin's price has been under significant pressure, experiencing a nearly 40% decline in value over the past week. As of the latest update, the price is hovering around $1.056, attempting a fragile rebound after briefly dropping to a low of $1.001 during the recent sell-off. The broader memecoin market has seen a reduction in speculative momentum, and Fartcoin's price movements are now closely monitored through technical indicators for signs of stabilization.

The daily chart reveals a sharp breakdown from the rising wedge structure that supported the April-May uptrend. Fartcoin's price has breached both the 0.236 and 0.382 Fibonacci retracement levels of the March–May rally, with the 0.5 and 0.618 levels at $0.9230 and $0.7521 now serving as crucial downside markers. The price recently rebounded from just above the $1.00 psychological level, which has historically acted as a key demand zone.

Multiple lower highs on the 4-hour chart reinforce the ongoing bearish trend, while key exponential moving averages are now stacked bearishly. The 20 EMA currently sits at $1.175, far above the current price. Furthermore, Bollinger Bands show clear expansion to the downside, indicating sustained Fartcoin price volatility.

From a momentum standpoint, the RSI on the 30-minute and 4-hour charts is recovering from deeply oversold territory, now printing values near 50. Meanwhile, the MACD histogram has started to turn positive, showing early signs of a bullish crossover. The Stochastic RSI is also pushing back above 80, suggesting short-term upward potential, though traders should remain cautious as this could signal a temporary relief rather than a full reversal.

Ichimoku Cloud analysis paints a cautious picture. The price is still trading below the Kijun-Sen and Tenkan-Sen, with the cloud above acting as dynamic resistance around $1.08–$1.10. For the Fartcoin price to regain any sustainable bullish traction, a decisive break above this cloud would be required.

The decline in Fartcoin's price can be attributed to a breakdown in speculative volume across memecoins and a technical collapse below key support at $1.20. The $1.20–$1.25 range was previously a liquidity pocket, but its failure to hold has invited sharp selling pressure. Broader market uncertainty and declining retail inflows into high-risk assets are compounding the bearish sentiment around the Fartcoin price.

For June 1st, Fartcoin is likely to remain rangebound between $1.00 and $1.10, unless a decisive move breaks through either side. Support at $1.00 remains psychologically and technically significant, while immediate resistance lies around $1.08, aligned with the Ichimoku baseline. Should bulls manage to hold above $1.05 and break through the $1.08–$1.10 band, the next upside targets sit at $1.20 and $1.30. On the downside, failure to hold $1.00 opens the door toward deeper Fibonacci levels at $0.923 and $0.752.

The Fartcoin price update suggests a fragile recovery attempt as June begins, with technical pressure still weighing heavily on the memecoin’s performance. Bulls must reclaim and hold above $1.08 to regain control. Until then, traders should remain cautious and treat any bounce as a potential short-term reaction within a broader downtrend.