Key Takeaways
- FARTCOIN has broken out of a descending channel five days after Coinbase added it to its radar
- FARTCOIN’s realized price sits well below spot value, indicating support that could fuel more upside.
- The daily chart shows a bullish twin peak, suggesting that the memecoin could break $1.75 soon.
FARTCOIN has outperformed every top 100 crypto, becoming the biggest gainer in the past 24 hours. Within that period, the memecoin pumped 20%.
Interestingly, the price increase came five days after Coinbase Assets added it to its pre-listing radar. Now, it looks like the floodgates might open. With Hyperliquid already on board, tier-1 exchanges could soon follow suit.
But here’s the big question — what does this mean for FARTCOIN’s price? Let’s break it down.
FARTCOIN Surges Again
Over the weekend, FARTCOIN’s price traded below $1. This development aligns with CCN’s price analysis from late May.
At that time, FARTCOIN was one of the biggest losers. But as the new week began, it moved past the psychological zone and is currently trading at $1.23.
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According to our findings, the announcement by Coinbase Assets on June 5 triggered fresh demand for the memecoin. While no listing date has been set, FARTCOIN may face a surge of buying pressure before then, pushing trading volume and price higher.
Thanks to the latest surge, FARTCOIN has broken out of a descending channel on the 4-hour chart. Amid this breakout, the Awesome Oscillator (AO) has jumped to the positive region after forming a bullish twin peak.
The twin peak pattern began with a reversal below the zero line. On the AO, both peaks sat under the signal, but the second was less bearish, hinting at weakening momentum before it flipped to a positive reading
This indicates that bulls are ready to take control and drive FARTCOIN’s price higher if sustained. Like the AO, the Money Flow Index (MFI) reading also supports a higher high for the memecoin as it indicates increasing buying pressure.
On-Chain Data Hints at Higher Values
From an on-chain point of view, we observed that FARTCOIN’s market value has maintained its position above the realized price. The realized price is a metric used primarily to estimate the average price at which all coins in circulation were last moved or transacted.
It represents the average on-chain cost basis for all holders. When the market price tops the realized price, most holders sit in profit, turning that level into support.
But flip the script, if the realized price is above the spot value, losses pile up, creating resistance. According to Glassnode, FARTCOIN’s realized price is $0.86, which trades at $1.23.
If sustained, that profit gap suggests bullish momentum could carry FARTCOIN’s price even higher, at least in the short term.
FARTCOIN Price Prediction: $2 Coming
Like the 4-hour chart, FARTCOIN’s price has jumped past the upper trendline of the descending channel. Besides that, the image below shows that it has also formed a double bottom pattern, indicating that the corrective phase is over.
Following this change in trend, the Relative Strength Index (RSI) has risen above the neutral line, indicating bullish momentum.
If this continues, FARTCOIN’s next target could be $1.75 near the 0.382 Fibonacci level. Once successful, this could drive FARTCOIN’s price toward $2.
However, if demand for the memecoin drops, this forecast might not happen. In that scenario, FARTCOIN might decline toward $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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