Despite a slight dip in the broader cryptocurrency market, several altcoins defied the trend, hitting new all-time highs today.
BeInCrypto analyzed three standout tokens, with Fartcoin (FARTCOIN) leading the charge.
Fartcoin (FARTCOIN)
Memecoin FARTCOIN surged to a new record high of $0.73 during Friday’s Asian session. It is now trading at $0.63, reflecting a 12% drop from its peak.
Today’s record high is the sixth in seven days, reflecting the steady increase in demand for the altcoin, mainly driven by the memecoin craze. FARTCOIN’s Moving Average Convergence Divergence (MACD) pattern confirms this bullish outlook.
At the time of publication, its MACD line (blue) is above its signal line (orange). When this momentum indicator is configured this way, it suggests an uptrend. It indicates that the asset’s price may continue to rise. This crossover is often seen as a buy signal, reflecting increased buying pressure.
FARTCOIN Price Analysis. Source: TradingView
If this trend continues, FARTCOIN price will regain its record high and could surpass it. On the other hand, the memecoin price could fall to $0.56 if selling pressure increases.
Fixed Token (FTN)
Fasttoken (FTN) is the native cryptocurrency of the layer-1 blockchain platform Bahamut. It rose to a record high of US$3.26 today (13). Although its price has dropped 1% since then, the token continues to enjoy a significant upward bias.
This is confirmed by the increase in Chaikin Money Flow (CMF). At the time of writing, FTN’s CMF is at 0.71.
The CMF indicator measures the accumulation and distribution of an asset over a specified period, typically 21 days. When the CMF is above zero, the asset is experiencing more buying pressure than selling pressure, suggesting an uptrend. This positive reading often signals a potential upward price movement.
FTN Price Analysis. Source: TradingView
If the rally continues, FTN will reclaim the all-time high of $3.26, potentially turning it into a support floor and moving higher. On the other hand, if profit-taking activity increases, the altcoin’s value will drop to $2.67.
Gigachad (GIGA)
Solana-based memecoin GIGA reached a new record high of $0.080 earlier today (13). It has since seen an 8% pullback, causing it to trade at $0.074 at the time of publication.
However, token accumulation persists among market participants, as reflected by the rise in GIGA’s Relative Strength Index (RSI). At the time of writing, it stands at 66.23.
An asset’s RSI indicator measures its overbought and oversold conditions. Its values range from 0 to 100, with values above 70 indicating that the asset is overbought and subject to a correction. On the other hand, values below 30 suggest that the asset is oversold and may witness a recovery.
GIGA Price Analysis. Source: TradingView
GIGA’s Relative Strength Index (RSI) of 66.23 indicates that the asset is approaching overbought conditions. While bullish momentum remains strong, higher RSI levels could signal a potential reversal or consolidation. In case of a pullback, the memecoin’s value could drop to $0.063.
The article 3 altcoins that hit record prices today, 12/13/2024 was first seen on BeInCrypto Brasil.