Popular meme coin price predictions: FARTCOIN, SPX6900 open contracts reach historic highs, bullish sentiment continues to strengthen.

Fartcoin (FARTCOIN) and SPX6900 (SPX) have continued to rise during the Asian afternoon session today (17th), currently ranking among the best-performing tokens. Data from derivative products and technical outlooks indicate that as open interest reaches historical highs and trend momentum strengthens, market bullish sentiment has increased.

FARTCOIN open interest contracts exceed 1 billion USD, SPX open interest contracts exceed 200 million USD

Open Interest (OI) refers to the total value of outstanding perpetual derivative contracts, serving as a direct indicator of trader interest.

CoinGlass data shows that Fartcoin's open interest has reached a historic high of $1.05 billion, surpassing Wednesday's $802.6 million. SPX's open interest has also reached a historic high of $200 million.

The increase in open positions indicates that as meme coin prices climb to new volatility highs, traders' interest is strengthening.

FARTCOIN, SPX Price Analysis: Bullish Trend Continues to Strengthen

FARTCOIN has dropped 5% as of Thursday's press release after soaring 16% the previous day. The meme coin remains above the 50-day Exponential Moving Average (EMA) and the psychological level of 1 dollar.

FARTCOIN is approaching the 78.6% Fibonacci retracement level at 1.56 dollars, which declined from the peak of 2.74 dollars on January 19 to the low of 0.19 dollars on March 10. If the daily closing price stays above this level, it may extend the bullish trend to the integer level of 2.00 dollars.

The Moving Average Convergence Divergence (MACD) indicator shows that the MACD and its signal line are exhibiting a positive trend. However, the fluctuating green bars indicate that the momentum of the trend is intensifying.

The Relative Strength Index (RSI) is 59, indicating that bullish momentum is gradually strengthening and has broken through the midpoint. The RSI shows that there is still room for upward movement before reaching overbought conditions.

On the other hand, the intact resistance level of $1.56 since January 19 has reversed, and it may test the 50-day EMA of $1.16.

(Source: Trading View)

SPX has fallen nearly 1% so far on Thursday, after rising 12% on Wednesday, reaching a historical high of $1.91. The daily closing price of the meme coin struggles to break through $1.80, matching the previous historical high.

A decisive breakout above $1.80 could extend the bullish trend to the key level of $2.00, followed by the 1.272 Fibonacci level at $2.22, retracing from the $1.80 high on January 19 to the $0.25 low on March 11.

The momentum indicator maintains a bullish tendency, similar to FARTCOIN, with the RSI breaking the midline to 67. At the same time, the MACD provides mixed signals, characterized by a fluctuating green histogram.

On the other hand, SPX's reversal from the resistance level of $1.80 may test the 78.6% Fibonacci retracement level at $1.47.

(Source: Trading View)