Fartcoin Faces critical Decision Point After Elliott Wave Completion
Fartcoin is at a crucial juncture following the completion of a significant elliott Wave pattern.The token’s price action hints at a potential shift in market behavior, with traders closely monitoring for signs of a larger correction.
FARTCOIN has reached a key resistance level, marking the end of a bullish five-wave Elliott structure.This level also signals the start of a possible wave D in an ABCD corrective phase. After a prolonged rally, the market appears to be losing steam, which could lead to a transition from bullish to corrective trends.
Key technical observations include:
- FART has finished a classic five-wave bullish Elliott Wave formation.
- The $1.15–$1.30 range is acting as a bearish order block, with no sustained price closures above.
- A macro ABCD correction may be forming, suggesting a larger downtrend could follow.
The daily chart shows a completed Elliott Wave 5 structure, with each subwave clearly defined. Typically, after such a pattern, markets enter corrective phases, often in ABC or ABCD patterns. The repeated rejection near $1.15 and failure to close above $1.30 indicates strong supply and bearish sentiment.
Historically, the $1.30 level has been a zone of significant selling pressure.The lack of follow-through volume suggests weakening buyer interest. On a broader timeframe, Fartcoin may be starting a macro ABCD correction, which could take weeks or months to fully develop.
According to Elliott Wave Theory, after five impulsive waves, a correction usually follows. This could mean revisiting previous lows or forming new ones. Fartcoin seems to be entering a reassessment period. A breakdown from this region would confirm a macro lower high and validate a deeper retracement.
Price action must either break through the $1.30 resistance convincingly or confirm rejection by forming a lower high below it. If bulls fail to retake the level, traders may target the $0.90–$1.00 support range, with further downside potential extending to previous swing lows.
