Altcoin Sherpa Eyes Key Fibonacci Level for Fartcoin Rebound

Popular crypto trader and analyst Altcoin Sherpa believes Fartcoin (FART/USDT) is approaching a pivotal support zone. Based on his technical analysis, the asset is nearing the 0.618 Fibonacci retracement level around $0.75—a key area that could determine whether the current downtrend continues or reverses.

Breakdown Continues Unless BTC Recovers

According to Altcoin Sherpa, the price structure appears fragile unless the token can achieve a strong daily close. Without bullish confirmation, the chart suggests a further drop toward the $0.75 level is likely, especially if Bitcoin fails to regain upward momentum.

The analyst noted that the April high has given way to successive lower highs and lower lows, indicating a possible continuation of the correction phase. The next major fib support at $0.75 aligns with previous price consolidation, making it a potential area for buyers to step in.

Buying the Dip at Major Support

Despite the bearish momentum, Altcoin Sherpa confirmed he is adding to his Fartcoin position at current levels. He views the 0.5–0.618 Fibonacci zone as a high-probability area for a bounce, particularly if broader market conditions stabilize.

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Charts accompanying his posts show a declining volume trend and price hovering just above the critical support band. While the setup remains vulnerable, the analyst appears willing to take the risk, anticipating that this region may act as a local bottom.

The post Altcoin Sherpa Eyes Key Fibonacci Level for Fartcoin Rebound appeared first on Coindoo.