Fartcoin Price Forms Bullish Pattern, Indicates Potential for Further Gains

Fartcoin, the third-largest meme coin on the Solana ecosystem, has experienced a remarkable surge in price, reaching $0.60—its highest level since February 11. The price has climbed by 180% from its lowest point this year, pushing its market cap to an impressive $510 million.

This upward movement comes amid a broader recovery in the Solana meme coin market. Fartcoin’s price surge is in line with other meme coins in the Solana ecosystem, such as Bonk, which has gained 35% in the last week, while Dogwifhat and Popcat have each jumped by over 20%. Collectively, the market capitalization of all Solana meme coins has increased from $7.5 billion last week to $8.6 billion today.

The broader crypto market has also seen a significant rebound. Bitcoin has crossed the $88,000 threshold, while Ethereum has surged above $2,000. This rebound has been widespread, with the overall market cap of cryptocurrencies hitting $2.87 trillion. The rally gained additional momentum after reports suggested that Donald Trump’s reciprocal tariffs would exclude key industrial goods, positively impacting U.S. equities, as evidenced by the strong performance of major stock indices like the Dow Jones, Nasdaq 100, and S&P 500.

Fartcoin, which was launched in October 2024, has proven itself as one of the most successful meme coins, seeing its price rise from $0.012 to $2.70. Its market cap skyrocketed from less than $22 million at launch to over $2.4 billion at its peak.

Fartcoin Price Forms Bullish Pattern

Looking at the daily chart, Fartcoin bottomed at $0.2015 earlier this month and has since mounted a steady recovery to its current price of $0.60, hovering near its highest point since February. Fartcoin is currently trading at the 78.6% Fibonacci retracement level, signaling a potential continuation of its upward trend.

Importantly, Fartcoin is forming a rounded bottom pattern, a technical chart formation often characterized by a gradual, U-shaped curve. This pattern typically signals a shift in market sentiment, as selling pressure diminishes. In some cases, this rounded bottom can be part of a larger cup-and-handle formation, which is often considered a bullish signal.

Momentum indicators, including the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), are also showing bullish momentum, indicating that the coin may continue its upward trajectory. As a result, traders are now setting their sights on the key resistance level at $1.3732, which is the 50% Fibonacci retracement level. This target represents a potential gain of approximately 135% from its current price.

Overall, the technical analysis suggests that Fartcoin could continue to rise, with bullish momentum driving the price towards new highs.