Fartcoin’s price has plunged 25% over the past week and nearly 40% from its May 23 peak, with technicals pointing to the risk of a further 30% slide if the critical $1 support level gives way.
Having recently dropped almost 40% from recent peak of $1.65 to $1 intraday low on May 31, Fartcoin (FARTCOIN) price is currently consolidating around $1.08, way below its EMA 20.
The latest leg down broke through the local horizontal support at $1.20, which also served as the neckline of a double top pattern. This confirmed a structural shift, with Fartcoin forming a lower low at $1 before retracing to the current $1.08 level.
While the Relative Strength Index has edged up from 40 to 42 as traders bought the dip from the local low, momentum remains weak, still below its moving average and trending downward. Trading volume has also visibly declined over the past couple of weeks.
Based on the current setup, further downside is likely. If the $1 support level fails, the memecoin‘s price could retest the $0.93–$0.95 zone, which has recently acted as a short-term demand area as the price had wicked twice to that level. Reaching this zone would represent a decline of roughly 14% from the current levels.
A breakdown below that could open the door for a deeper move to the $0.75–$0.80 region, a horizontal support zone from mid-May. This area also aligns with the measured move target from the double top pattern: the $0.45 difference between the $1.65 peak and the $1.20 neckline projects a potential downside target near $0.75. Hitting this level would represent a roughly 30% drop from the current price.
