TLDR
- Fartcoin (FART) price surged 20% today and 80% over the week
- Currently trading at $0.8416 with a market cap of $841.89M
- Shows a cup-and-handle formation indicating bullish reversal
- Analysts predict targets between $1-$1.2 in the short term
- Rising open interest with majority in long positions shows investor confidence
Fartcoin, one of the most popular Solana-based meme coins, has seen its price jump 20% today despite the broader crypto market downturn. The token is now trading at $0.8416, representing a weekly gain of approximately 80%.
The surge comes as investor interest returns to the token, evidenced by rising open interest data. Market analysts are now watching closely to see if FART can reach the $1 milestone in the coming days.
With a current market capitalization of $841.89 million, Fartcoin has established itself as a notable player in the meme coin sector. Its unique name has helped catch investor attention in a crowded marketplace.
FARTCOIN Price
This price action stands in stark contrast to most other cryptocurrencies, which have been experiencing downward pressure recently. Even other popular meme coins have struggled, making FART’s performance particularly noteworthy.
Technical Analysis Shows Strong Reversal Pattern
Technical analysts point to a textbook cup-and-handle formation on Fartcoin’s 4-hour chart. This pattern typically signals a bullish reversal after a prolonged downtrend.
The token reached a low of $0.20 during its bottoming process before completing five impulsive waves, confirming the reversal pattern that traders look for.
Fibonacci retracement levels drawn from the previous high of $2.72 to the local bottom of $0.20 indicate current resistance at $0.80, followed by $1.16. These levels align with typical correction targets after extended bearish markets.
The Relative Strength Index (RSI) shows continued strength with higher lows, suggesting momentum remains intact. However, the asset is approaching overbought territory.
This might lead to brief corrections before pushing toward higher levels.
Liquidation Data Supports Bullish Outlook
Data from Coinglass indicates that shorts are being liquidated, forcing traders to rebuy the asset and further pushing up the price.
The majority of capital is placed in long positions, revealing investors’ confidence in FART’s potential for additional gains.
This liquidation pattern often fuels continued price movement in the direction of the trend, providing technical support for the bullish thesis.
Some market participants have noted that this surge in Fartcoin coincides with renewed interest in other Solana-based meme coins, including Bonk and Dogwifhat, which have also seen price increases.
The crypto community speculates that this could mark a recovery of investor interest in these previously struggling digital assets.
Price Targets and Predictions
Various crypto analysts anticipate further upside for the Solana meme coin. With FART having previously reached a high of $2.61 three months ago, a $1 target appears feasible to many observers.
Some analysts predict a near-term target of $1.2, based on the breakout from horizontal resistance and continued bullish momentum amid high trading volume.
More optimistic price forecasts suggest FART could reach as high as $10 during the next major crypto bull run. These predictions are based on the view that Fartcoin has bottomed out and is now consolidating above key breakout levels.
Elliott Wave analysis suggests FART is currently within wave (v) of a higher-degree impulse. Projected targets for this wave fall between $0.85 and $0.98, aligning well with higher timeframe resistance zones.
However, market uncertainty remains due to external factors, including potential impacts from ongoing trade tensions under the Trump administration. These geopolitical concerns continue to influence investor sentiment across all asset classes.
For now, the short-term outlook for Fartcoin appears positive, with technical indicators and market sentiment supporting continued upward momentum. Traders will be watching the $1 psychological level closely in the coming days.