Fartcoin [FARTCOIN] has been holding its nose at support, but the air is getting thin. After slipping below the $1 mark, the token now trades around $0.93 — down 10% in just 24 hours. Buyers look cautious, volumes are drying up, and the hype that once pumped this token seems to be taking a coffee break.
The broader market hasn’t helped either, with risk appetite cooling across altcoins. For Fartcoin, that means momentum looks more like a deflating balloon than a rocket launch.
Fibonacci frustration: resistance keeps laughing
The charts tell a less-than-flattering story. FARTCOIN has repeatedly bounced between $0.90 and $0.95, stuck in a support zone it can’t seem to break free from. Higher Fibonacci retracement levels at $1.32 and $1.40 stand untouched, like glass ceilings bulls just can’t punch through.
Meanwhile, the Relative Strength Index (RSI) is parked near 42 — not oversold, not bullish, just awkwardly in the middle. Unless momentum picks up, traders may have to choose between clinging to hope or bracing for a slide under $0.90.
Shorts call the shots while Open Interest deflates
If you’re wondering who’s steering this ship, the answer is simple: the shorts.
Open Interest (OI) has slipped 8.29% to $724.56 million, signaling that traders are backing off instead of doubling down. And with the Long/Short ratio at 0.88, it’s clear sellers are still running the show — 53.1% short versus 46.9% long.
For bulls, that’s like trying to run uphill in flip-flops.
On-chain gas runs low
Fartcoin’s on-chain activity paints an equally grim picture. Network Growth has plunged to just 201 new addresses as of 16 August, collapsing from its July peak of over 12,000. That’s a massive decline in fresh adoption.
And socially? The conversation has shifted. FARTCOIN’s Social Dominance is down to 0.096%, a steep drop from its 0.35% late-July glory. In crypto terms, fewer people talking usually means fewer people buying.
Can Fartcoin hold the line?
The outlook isn’t all doom, but it’s close. To avoid a messy breakdown below $0.90, FARTCOIN needs bulls to step in with volume, reclaim key resistance, and reignite on-chain activity. If not, the token risks slipping further down the chart — and out of the spotlight.
For now, the question remains: will this be a temporary breather, or is the gas really running out?
