Key Takeaways
- FARTCOIN’s price surged from $1.25 to $1.45 after its spot listing on the Hyperliquid exchange.
- The 4-hour chart shows a bull flag breakout, a classic continuation pattern signaling further upside.
- FARTCOIN’s Open Interest hits $288.41 million, indicating confidence in the memecoin’s price rise.
- The main barrier to break is the supply zone near $1.55; A successful breach could open the path to $3.
Fartcoin (FARTCOIN) has secured its first tier-1 spot listing after decentralized exchange (DEX) Hyperliquid added the token yesterday. The news sparked yet another rally in FARTCOIN’s already explosive run.
Over the past 24 hours, the memecoin’s value surged 12.5%, ranking among the top performers in the crypto top 100. FARTCOIN trades at $1.45 at press time, with its market cap edging close to $1.5 billion.
In this analysis, CCN breaks down what the listing could mean for FARTCOIN’s short-term outlook.
Hyperliquid Drops the Match, FARTCOIN Ignites
Before the Hyperliquid listing , FARTCOIN traded around $1.25. Shortly after the announcement, the price jumped to $1.45.
Historically, listings on tier-1 exchanges boost demand due to deeper liquidity and higher trading volume. However, timing remains key — retail traders sometimes buy into hype only to get caught in post-listing corrections.
You’ll Want To See This
However, in this case, the 4-hour FARTCOIN/USDT chart suggests that this rally might have more fuel left. The chart below shows that FARTCOIN’s price action has formed a bull flag.
A bull flag appears during an uptrend, indicating that the price will likely move higher after a brief period of consolidation. The pattern appears after a strong upward move (flagpole), representing aggressive buying.
Then, two parallel trendlines (forming the flag) appear, indicating consolidation. This pattern ends with a break above the flag’s upper trendline.
From the image above, FARTCOIN’s price has broken out of the upper trendline, indicating that the market value could continue to increase. Also, the Money Flow Index (MFI) extended its rating, signifying buying pressure.
Traders Continue to Bet Big
Similarly, the Supertrend indicator’s green line sits below the price, flashing a clear buy signal. If these trends hold, FARTCOIN could retest the $2 mark soon.
From an on-chain angle, Santiment data shows that FARTCOIN’s Open Interest (OI) has spiked to $288.41 million. OI represents the sum of the value of all open contracts around a cryptocurrency.
An increase in the metric indicates buying pressure in the derivatives market. When it decreases, it means reduced exposure, which is bearish.
Therefore, the hike in FARTCOIN’s OI and price indicates strength for the upswing. As such, the memecoin’s value might climb higher in the near term.
FARTCOIN Price Prediction: $3 Possible
On the daily chart, FARTCOIN’s price has maintained its bullish technical setup, with the U-shaped recovery intact. As of this writing, the memecoin price increase to $1.45 means it is at the 0.50 Fibonacci level, a crucial support.
By the look of things, the only hurdle FARTCOIN might have to face is the supply zone near $1.55. However, bulls might break past this resistance if demand for the memecoin continues to rise and trading volume surges.
If achieved, the next target for FARTCOIN could be a rally to $2.13 around the 0.236 Fib level. Once validated, the memecoin could hit a new all-time high of $2.74, eventually paving the way toward a run toward $3.
On the other hand, if bulls fail to breach the overhead resistance, the cryptocurrency might experience a pullback.
In that scenario, FARTCOIN’s price could drop to $1.14. In a highly bearish case, it might slide to $0.70.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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