FARTCOIN rockets 20% overnight—traders scramble as price swings between $1.08 and $1.46

Another day, another memecoin defying gravity—and common sense.

FARTCOIN''s sudden surge leaves analysts split: Is this the start of a parabolic rally or just another pump before the dump? With volatility hitting warp speed, even seasoned degens are clutching their ledger wallets.

Meanwhile, Wall Street ''experts'' still can''t decide if crypto is a revolution or a Ponzi scheme. Place your bets—the casino stays open 24/7.

Source: CoinGlass

This return is evidenced by the spot netflow, which has turned negative once again after previously turning positive.

A negative netflow suggests that markets are seeing more exchange outflows than inflows, reflecting high demand.

As these buyers accumulated FARTCOIN, they entered the Futures market and took long positions. Consequently, its Open Interest surged by 20.2%, reaching $725.5 million at press time.

Source: Coinalyze

Moving forward, the Funding Rate has held strongly in positive territory for the past seven days. This implies that investors have long bias and are anticipating prices to rise.

Usually, a high demand for long positions reflects strong bullish sentiments. For FARTCOIN, 56.3% of investors were long at the time of writing, while shorts were at 46%.

Source: Coinalyze

With demand soaring, the current market condition sets FARTCOIN for more gains. The question now is — can the memecoin can hold these gains and challenge a higher resistance?

Can FARTCOIN hold its momentum?

According to AMBCrypto’s analysis, FARTCOIN was experiencing strong demand at press time, with market sentiment shifting drastically to bullishness.

The memecoin’s MACD made a bullish crossover over the past day, reflecting a strong uptrend. A crossover to the upside here suggest that prices are closing with highs, and the trend is likely to continue.

Source: Trading View

If the prevailing market conditions hold, FARTCOIN’s upward momentum will likely continue, and it could challenge $1.4 resistance in the short-term.

To complete a breakout from the descending channel, FARTCOIN needs to reclaim $1.46.

However, after spiking to $1.24, a significant amount of holders who have been underwater are now back in profit, and it could incentivize them to realize profit.

If holders turn to profit realization, the market will correct, and a drop to $1.085 could be inevitable.