Fartcoin decisively broke out above the descending wedge, retested the top ascending line and is moving up. Momentum indicators are all in the bull territory. However, there is a large sell block sitting above. I think the price will eventually break out to upside, but until the sell block disappears the price might move sideways for a while, struggling to move above Fib 0.786 level (last line of defence for the bear). I don't trade meme coins, but if I have to trade, I will enter at $1 zone with stop loss at $0.69 and profit target at $1.68 (1.618 Fib extension level). Ris/Reward ratio is 2:08. I own a bag of fartcoins and intend to take profit in stages when momentum indicators show clear negative divergence in 4H or Daily chart.
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