Fartcoin Surges as Technical Indicators Signal $2 Rally—Traders Hold Their Noses
Golden cross meets shark pattern—Fartcoin's chart is serving up a volatile cocktail of bullish signals. The meme coin's latest breakout has analysts eyeing a $2 price target, though seasoned traders know these formations sometimes smell worse than they perform.
Market technicians point to the 50-day moving average slicing above the 200-day as confirmation of upward momentum. Meanwhile, the elusive 'shark pattern'—beloved by crypto Twitter chartists—suggests a feeding frenzy could follow. Just don't remind anyone about last month's 'inverted narwhal' prediction that sank portfolios faster than a leveraged shitcoin.
As always in crypto land: the louder the technical setup screams 'buy,' the quieter you should keep your margin positions. After all, what's another 200% pump between degens?
Fartcoin price analysis
On the technical side, FARTCOIN has broken out from the upper edge of a broadening wedge pattern on the 4-hour USDT chart, a setup that’s often seen as a bullish reversal signal.
After the breakout, it seems to have found strong support in the $0.86–$0.93 zone. The 20-day simple moving average has crossed above the 50-day, forming what analysts call a golden cross, which usually suggests a continuation of upward momentum. Meanwhile, both the RSI and Stochastic Oscillator are pointing up, hinting that buying pressure is building.
Technical analyst Waleed Ahmed also pointed out that FARTCOIN has broken out of a bullish Shark Harmonic pattern, which often signals a strong MOVE to the upside.
Given this setup, the next key target appears to be around $1.38, which lines up with the 50% Fibonacci retracement level. If FARTCOIN breaks above that, bulls may aim for the $2 mark, roughly a 60% gain from current levels.
That said, there’s still some risk on the way. According to Nansen data, while the top 100 holders have been adding to their FARTCOIN bags, many smart money wallets and whales have been selling over the last 30 days. Exchange balances are also up 18%, raising concerns about a possible sell-off in the NEAR term.
If FARTCOIN fails to stay above the important $1 psychological support, sellers could try to drag it down to $0.50, which WOULD mean a 60% drop from where it’s currently trading.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
