FartCoin Tumbles 7.1% as $1.05 Support Tests Bearish Control Post $1.64 Rejection

FartCoin’s price action has drawn attention as the meme-based cryptocurrency faces critical technical levels following a sharp rejection from the $1.64 resistance. After a liquidity grab and a bearish engulfing candle, the asset corrected sharply from its recent high, trading around $1.31 on Friday, a 7.1% decline from its peak [1]. The breakdown has intensified bearish momentum, with market structure weakening and no immediate signs of stabilization.

The $1.05 level has emerged as a focal point for support, aligning with key technical indicators including the point of control (POC), the 0.618 Fibonacci retracement, and high-time-frame (HTF) support zones. This confluence of levels is often a magnet for price action during corrective phases, offering a potential floor for stabilization or reversal. Traders are closely monitoring volume dynamics at this level, as increased buying pressure could signal a bullish pivot. However, the absence of a clear bottoming formation currently tilts the bias toward further downside [1].

A breakdown below $1.05 could trigger a deeper retracement toward $0.90, reshaping the market into a range-bound structure between $0.90 and $1.64. Such a move would mark a significant shift in trend, favoring sellers over buyers. Recent climactic volume spikes suggest the prior upward move may have exhausted its momentum, while indicators like the value area high and bearish divergence in momentum metrics underscore ongoing selling pressure [1].

The broader context highlights a struggle between bulls and bears, with the $1.05 support serving as a critical battleground. Failure to defend this level could invalidate the potential for a higher low formation, leaving the asset vulnerable to prolonged sideways consolidation or further declines. For now, market participants are advised to prioritize risk management, given the lack of a definitive reversal signal and the dominance of bearish structure.

Source: [1] FartCoin Eyes $1.05 Support After $1.64 Rejection Shakes Bulls [https://coinmarketcap.com/community/articles/68856d259bfd71364189a302/].