FARTCOIN 4H

Feb 5

After selling off heavily from the high FARTCOIN is starting look stronger at these areas.

Price has broken out of the diagonal downtrend resistance after sweeping the KEY S/R LEVEL demand zone. Now retesting the breakout for support, if it holds then a move towards the LOCAL HIGH BEARISH OB is the next aim for bulls.

After that a progressive HL & HH structure is needed to work up to the TP targets at significant levels later on.

Overall good R:R at this level from a chart TA perspective, my worry is that currently memecoins are out of favor because of the sell off so keeping an eye on sentiment would be important.

Feb 5

Note

About to tag the DAILY SUPPORT zone, needs a bounce here to begin the LONG trigger process.

Feb 9

Note

The KEY S/R is still proving to much for the bulls right now, a reclaim early next week would be best case scenario.

A further decline under $0.40 and the next support is $0.27

Feb 10

Note

Breakthrough on the S/R level along with a 1H 200 EMA flip.

Great strength over the weekend and into Monday, I would like to see a competent retest and a push higher to get the LONG trigger.
LONG invalid on acceptance under KEY S/R.

Feb 11

Note

Successful retest of KEY S/R, now confirmed as support with a new local higher high on the LTF.
Looking much stronger than it was last week.

Feb 13

Note

KEY S/R lost and becomes resistance again as CPI halts any bullish move that was building. Frustrating times but we continue to work with what is in front of us.