Meme coins are back in the spotlight, and FARTCOIN is riding the wave. The Solana-based token has surged 11% following renewed interest in meme assets. This rally comes after Donald Trump praised the TRUMP token on Truth Social, sparking fresh enthusiasm in the market.
Technical indicators suggest strong buying pressure, hinting that FARTCOIN’s rally could continue.
FARTCOIN Gains Momentum
FARTCOIN has been on an uptrend since hitting a year-to-date low of $0.19 on March 10. The token is now trading at $0.59, marking a 200% increase.
The price is moving within an ascending parallel channel, a bullish pattern that signals steady buying pressure. In this formation:
- The lower trendline acts as support, preventing further declines.
- The upper trendline serves as resistance, capping the price’s upward movement.
If FARTCOIN remains within this channel, its rally could strengthen further.
Technical Indicators Support a Bullish Outlook
The BBTrend indicator, which tracks market momentum, has turned positive. For the first time in 43 days, it printed a green histogram bar, suggesting increasing bullish momentum.
This indicator measures price trends using Bollinger Bands. A green signal indicates that buying pressure is growing, which could lead to further price gains.
Can FARTCOIN Hit $0.95?
FARTCOIN must break above its resistance level at the upper trendline to confirm a strong uptrend. If this happens, the price could climb toward $0.95, a level last seen in January.
However, if the market turns bearish and traders begin taking profits, FARTCOIN could drop below $0.42, breaking its bullish pattern.
Final Thoughts
With meme coin hype on the rise, FARTCOIN could continue its impressive rally. If buying momentum stays strong, the token may push toward $0.95 in the coming weeks. Traders should watch for resistance breaks and market sentiment shifts.
