FARTCOIN: Here’s why $2 remains a possibility despite 11% drop

Key Points

1. FARTCOIN dropped 11% in the last 24 hours, trading at $1.53, with resistance at $1.53 and declining open interest contributing to the drop.

2. The 4-hour chart showed progress before a drop to $0.80, with 24H volume falling from $1.5 billion to $683 million.

3. Open Interest (OI) declined from $1.05 billion to $857 million, and the FDMC ratio dropped to 0.086 from 1.0 earlier this month.

4. Hyperliquid decentralized exchange traders believe FARTCOIN could still reach nearly $2, with $1.939 identified as a key battleground level.

5. If momentum shifts in favor of bulls, FARTCOIN has potential to hit $2, despite current downward pressure.