Solana-based meme coin FARTCOIN has surged 25% in the last 24 hours, with a 65% rally over three days.
In the last 24 hours, Solana meme coin Fartcoin FARTCOIN $1.15 24h volatility: 2.9% Market cap: $1.15 B Vol. 24h: $234.63 M has surged by another 25% eyeing a fresh breakout above its all-time high of $1.60. FARTCOIN price has rallied by 65% in the last three days thereby taking its weekly gains to more than 40%.
As of press time, FARTCOIN is trading at $1.20 levels with daily trading volumes surging 72% to $147.6 million. Also, as per the CoinGlass data, the open interest for the Solana meme coin has jumped 22% to nearly $160 million.
FARTCOIN Price Rally to Continue amid Bullish MACD Crossover
The Solana meme coin has witnessed a strong recovery following a correction to $0.75 after a 50% correction from its all-time high on January 4. With the current recovery, the Moving Average Convergence Divergence (MACD) indicator for Fartcoin shows that a bullish cross-over could be imminent.
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Source: TradingView
Market optimism and Bitcoin’s continued dominance often have a cascading effect on altcoins. Thus, if the Bitcoin price BTC $94 031 24h volatility: 0.9% Market cap: $1.87 T Vol. 24h: $25.93 B pulls a rally past $100K levels, it could provide an additional thrust to the Solana meme coin.
FARTCOIN’s Chaikin Money Flow (CMF) has been oscillating near the zero line, signaling hesitation among investors. The subdued inflows reflect cautious market behavior, likely influenced by the meme coin’s heightened volatility.
For the FARTCOIN price to maintain its upward trajectory, it must receive a strong boost in investor confidence along with inflows. Without clear bullish signals and market volatility, investors should be watchful with the expectations of new all-time highs.
Where’s the Solana Meme Coin Moving Next?
Just over the past three days, FARTCOIN has gained more than 67% taking its price to more than $1.27, and is now just another 30% away from its all-time high levels. After the recent run-up, there’s a possibility that the Solana meme coin could see some pullback ahead.
Popular crypto analyst shows that FARTCOIN could form a base at $0.98 before resuming the next leg of rally ahead. If the Solana meme coin maintains this support level, the subsequent price targets on the upside include $1.266, $1.5828, and $1.8994.
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Source: TraderSZ
If FARTCOIN fails to hold the crucial $0.98 support level, its price could retreat to $0.69. This potential drop would undermine the bullish narrative, erasing recent gains and exposing the coin to additional downside risks.
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