Market
FARTCOIN, POPCAT Decline, BRETT Rallies
The crypto market has displayed mixed signals over the past week, with Bitcoin struggling around the $98,200 resistance level. As a result, most altcoins, including meme coins, have experienced sharp losses.
BeInCrypto has analyzed three meme coins—two are facing significant declines, while one is seeing gains despite the bearish market conditions.
Fartcoin (FARTCOIN)
FARTCOIN has experienced a 32% decline over the past week, trading at $0.38 after failing to breach the $0.60 barrier. The meme coin has struggled to regain upward momentum, highlighting the difficulty in surpassing previous resistance levels. As FARTCOIN faces these challenges, it becomes more vulnerable to further declines unless market conditions provide stronger support for a reversal.
After hitting a two-month low, FARTCOIN is currently holding above the support of $0.26. Should the price recovery fail, it risks consolidating around this level or potentially falling further, possibly to $0.16. The inability to break through key resistance points reflects traders’ ongoing caution, indicating that a full recovery may take longer to materialize.
However, if FARTCOIN can successfully secure $0.37 as a support floor, it could pave the way for a rise towards the $0.60 resistance. A successful breach of this level would invalidate the bearish thesis, potentially sending FARTCOIN beyond $0.69.
Popcat (SOL) (POPCAT)
POPCAT price has dropped by 23% over the past seven days, trading at $0.26. Despite this, the meme coin has managed to reclaim $0.23 as a support level. This recovery is still tentative, and POPCAT faces uncertainty as it attempts to regain lost ground and sustain a rebound.
POPCAT remains vulnerable to a potential drop to $0.20, as past performance indicates that the coin struggles to sustain recovery. Historically, when it doesn’t bounce back from key support levels, it often falls back to these levels to recover.
If the broader market momentum remains positive, however, POPCAT could break through resistance levels and rise toward $0.34 or even higher. With favorable conditions, the altcoin could target $0.49, invalidating the bearish outlook and setting the stage for more substantial gains in the coming days.
Brett (BRETT)
BRETT, one of the few top meme coins, has defied broader market trends, rising by 15.7% to trade at $0.049. This uptick signals a positive shift for the altcoin, suggesting that it may continue to gain momentum if favorable conditions persist.
The altcoin is establishing $0.047 as a support floor, which is critical for BRETT’s recovery. Holding this level will be essential for the altcoin to break past the resistance at $0.058, marking its next key target. Maintaining this support could pave the way for further upward movement in the coming days.
However, if $0.047 fails to hold, BRETT could see a pullback, potentially falling to $0.035. Such a drop would invalidate the bullish outlook and extend the losses for investors, signaling a potential halt in its recovery. A sustained breach of this support could significantly impact the altcoin’s future price action.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Solana started a recovery wave above the $132 resistance zone. SOL price is now consolidating and might struggle to recover above the $150 resistance.
- SOL price started a recovery wave from the $125 support zone against the US Dollar.
- The price is now trading above $130 and the 100-hourly simple moving average.
- There is a connecting bullish trend line forming with support at $134 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could start a fresh increase if the bulls clear the $142 zone.
Solana Price Faces Resistance
Solana price started a recovery wave from the $125 zone, like Bitcoin and Ethereum. SOL was able to climb above the $132 and $140 resistance levels.
The price even cleared the $142 level, but it faced resistance near $145. A high was formed at $145 and the price started a downside correction. There was a move below the $142 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $125 swing low to the $145 high.
Solana is now trading above $130 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $134 on the hourly chart of the SOL/USD pair.
On the upside, the price is facing resistance near the $140 level. The next major resistance is near the $142 level. The main resistance could be $145. A successful close above the $145 resistance zone could set the pace for another steady increase. The next key resistance is $150. Any more gains might send the price toward the $162 level.
Another Decline in SOL?
If SOL fails to rise above the $142 resistance, it could start another decline. Initial support on the downside is near the $135 zone and the 50% Fib retracement level of the upward move from the $125 swing low to the $145 high. The first major support is near the $133 level.
A break below the $133 level might send the price toward the $125 zone. If there is a close below the $125 support, the price could decline toward the $114 support in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.
Major Support Levels – $135 and $133.
Major Resistance Levels – $142 and $145.
Bitcoin (BTC) is showing signs of a potential breakout, with recent price action indicating positive momentum.
As broader market conditions cool down, BTC has remained steady, with consistent investor behavior fueling hopes of further gains. The altcoin is poised for possible growth as it continues to attract investors’ attention.
Bitcoin Has The Support Of Key Holders
The Long/Short Term Holder Supply Ratio has shown notable growth since the end of February, signaling a positive shift in investor behavior. Long-Term Holders (LTHs) are in steady accumulation, with the 30-day accumulation rate now nearing 6%. The rate of this change has also increased, averaging 7% daily since late February.
This sustained accumulation suggests that LTHs have a strong belief in Bitcoin’s future potential, which could help BTC maintain its recent growth. LTHs are often seen as a stabilizing force in the market, and their consistent accumulation could act as a foundation for the ongoing uptrend in Bitcoin’s price.
Bitcoin has also seen a positive shift in macro momentum, particularly with the recent inflows into Bitcoin Spot ETFs. Last week marked the first ETF inflows in a month, breaking a four-week streak of outflows. This change signals returning confidence among investors, particularly macrofinancial investors. The renewed interest in BTC ETFs reflects the growing demand for Bitcoin exposure in institutional portfolios.
The inflows indicate that larger investors are once again viewing Bitcoin as a valuable asset. This could be a strong signal that demand for Bitcoin is recovering, which may help propel the price further. The involvement of institutional investors could drive significant price appreciation in the coming weeks.
BTC Price Rise Is Consistent
Bitcoin is currently trading at $86,630, breaking out of a descending wedge pattern. The price is attempting to secure $86,822 as support, which will be crucial for BTC’s next move. If the support holds, Bitcoin may continue its upward trajectory towards the $89,800 resistance level.
The confirmation of the breakout will come when Bitcoin successfully flips the $89,800 resistance into support. A sustained move above this level could push the price further toward $93,625 and potentially $95,000.
However, if Bitcoin fails to breach $89,800, it could struggle to maintain its current momentum. A consolidation below this level or a drop to $85,000 would delay the recovery, shifting the market sentiment toward caution. This would halt the progress and potentially lead to a longer consolidation phase.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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Ethereum price started a recovery wave above the $2,000 zone. ETH is now consolidating and facing hurdles near the $2,100 resistance.
- Ethereum started a recovery wave above the $2,000 level.
- The price is trading above $2,020 and the 100-hourly Simple Moving Average.
- There is a connecting bullish trend line forming with support at $2,000 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair must clear the $2,080 and $2,100 resistance levels to start a decent increase.
Ethereum Price Recovers Further
Ethereum price formed a base above the $1,850 level and started a recovery wave, like Bitcoin. ETH was able to clear the $1,920 and $1,950 resistance levels.
The bulls pushed the price above the $2,000 level. Finally, the price tested the $2,100 zone. A high was formed at $2,104 and the price started a downside correction. There was a move below the $2,080 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $1,980 swing low to the $2,104 high.
Ethereum price is now trading above $2,020 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,000 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $2,080 level. The next key resistance is near the $2,100 level. The first major resistance is near the $2,120 level. A clear move above the $2,120 resistance might send the price toward the $2,200 resistance.
An upside break above the $2,200 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,250 resistance zone or even $2,320 in the near term.
Are Dips Supported In ETH?
If Ethereum fails to clear the $2,100 resistance, it could start another decline. Initial support on the downside is near the $2,040 level. The first major support sits near the $2,025 zone and the 61.8% Fib retracement level of the upward move from the $1,980 swing low to the $2,104 high.
A clear move below the $2,025 support might push the price toward the $2,000 support. Any more losses might send the price toward the $1,950 support level in the near term. The next key support sits at $1,880.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $2,000
Major Resistance Level – $2,100
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