Date: Tue, July 08, 2025 | 05:58 AM GMT
The cryptocurrency market kicked off Q3 with a steady upside push, but fresh tariffs imposed by U.S. President Trump have shaken market sentiment once again. Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are down nearly 1% today, and memecoins are starting to feel the pressure — including Fartcoin (FARTCOIN).
FARTCOIN has dropped more than 6% in the past 24 hours, and its technical chart now points toward a potential short term trend shift after breaking down from a bearish pattern.
Rising Wedge Breakdown in Play
On the 4-hour chart, FARTCOIN had been moving steadily inside a rising wedge — a well-known bearish reversal pattern. The token respected this upward-sloping structure throughout late June, bouncing between the wedge’s support and resistance trendlines.
However, with today’s drop, FARTCOIN faced strong rejection near the $1.16 level — right at the upper boundary of the wedge. From that point, selling pressure increased and price action broke below the lower support trendline of the wedge, triggering a bearish breakdown signal.
What’s Next for FARTCOIN?
FARTCOIN is now testing a key support zone around $1.07, which also aligns with the 100-period moving average on the 4H timeframe. This is a crucial area — a bounce from here could result in a retest of the broken wedge support (now acting as resistance), with price potentially climbing back toward the $1.20 level.
However, if FARTCOIN breaks and closes below this $1.07 support, it would likely confirm the breakdown, increasing the chances of a continued move lower. In that scenario, the next downside targets could lie around $1.00 and $0.93, where previous support zones may come into play.
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