Solana-based meme coin FARTCOIN has soared 11% amid the ongoing meme coin frenzy. The rally follows Donald Trump’s Truth Social post praising the TRUMP token, igniting renewed interest in meme assets.
Technical indicators reveal an uptick in FARTCOIN’s buying activity, hinting at the likelihood of an extended rally.
FARTCOIN Surges with Strong Buying Pressure
FARTCOIN has maintained an upward trend since it plummeted to a year-to-date low of $0.19 on March 10. Currently trading at $0.59, the meme coin’s price has since rocketed 200%, trading with an ascending parallel channel.
This is a bullish pattern formed when an asset’s price moves between two upward-sloping parallel trendlines, indicating a sustained bullish trend. The lower trendline acts as support, preventing the price from falling further, while the upper trendline serves as resistance.
Traders view this pattern as a sign of steady buying pressure and potential price continuation if the asset remains within the channel. This means that the longer FARTCOIN remains within the channel, the stronger its rally becomes.
Furthermore, the positive reading from FARTCOIN’s BBTrend reinforces this bullish outlook. At press time, the indicator prints a green histogram bar—the first in 43 days—signaling renewed upward momentum.
The indicator tracks the strength and direction of price trends using Bollinger Bands. When the indicator turns green, it signals increasing bullish momentum, suggesting that buying pressure is growing. If buying activity remains high, this indicates the potential for further FARTCOIN price appreciation.
FARTCOIN Bulls Target $0.95—Will the Rally Hold?
FARTCOIN’s break above the upper trend line of its ascending parallel channel, which forms significant resistance, would strongly confirm its uptrend. In this scenario, the meme coin’s price could climb toward $0.95, a high it last reached in January.
Conversely, if market sentiment turns bearish and profit-taking increases, FARTCOIN’s price could break below the lower trendline of its ascending parallel channel to reach $0.42.
Disclaimer
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