Solana-based meme coin FARTCOIN has surged 11% amid the ongoing meme coin frenzy, following Donald Trump’s Truth Social post praising the TRUMP token, sparking renewed interest in meme assets.
Technical indicators show increased buying activity for FARTCOIN, suggesting a prolonged rally.
FARTCOIN Surges with Strong Buying Pressure
After hitting a year-to-date low of $0.19 on March 10, FARTCOIN has shown an upward trajectory, currently trading at $0.59, which reflects a 200% increase. The price movement is characterized by an ascending parallel channel.
This bullish pattern occurs when an asset’s price fluctuates between two upward-sloping parallel trendlines, indicative of a sustained bullish trend. The lower trendline offers support to prevent further declines, while the upper trendline serves as resistance.
Traders interpret this formation as a sign of consistent buying pressure that could lead to further price continuation if the asset remains within the channel. Thus, the longer FARTCOIN trades within this channel, the stronger the rally potential.
In addition, FARTCOIN’s BBTrend indicator signals a bullish outlook, showing a green histogram bar—its first in 43 days—which indicates renewed upward momentum.
The BBTrend tracks the strength and direction of price trends using Bollinger Bands. A green reading illustrates growing bullish momentum, indicating increasing buying pressure, which suggests the potential for more FARTCOIN price appreciation.
FARTCOIN Bulls Target $0.95—Will the Rally Hold?
A decisive break above the upper trendline of the ascending parallel channel, which poses significant resistance, would confirm the uptrend strongly. If this occurs, FARTCOIN could aim for $0.95, a high it last saw in January.
However, a bearish change in market sentiment or increased profit-taking could see FARTCOIN’s price dipping below the lower trendline of the ascending parallel channel, potentially reaching $0.42.
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