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crypto.news 2025-04-17 19:59:45

Is Fartcoin price winding up for breakout? Bullish pennant targets $1.52 on clean move

Is Fartcoin price winding up for breakout? Bullish pennant targets $1.52 on clean move

Fartcoin is consolidating within a bullish pennant pattern following a strong upward expansion. With the apex of the structure nearing and volume steadily contracting, traders are anticipating a breakout. Key indicators, including the 50-day moving average, support a bullish continuation targeting the $1.52 daily resistance. Fartcoin ( FARTCOIN ) has entered a technical consolidation phase after a significant bullish expansion. Price is now compressing between two converging trendlines, forming a textbook bullish pennant. As the pattern matures and volume dries up, this setup signals that a breakout is likely approaching. Bullish structure remains intact and continues to be supported by technical confluence. Fartcoin is trading within a bullish pennant pattern Volume contraction signals a buildup in volatility 50-day moving average is rising and acting as dynamic support Breakout could lead to a measured move toward $1.52 daily resistance Source: TradingView Price action remains clean and structured within the pennant, suggesting healthy consolidation. The trendlines have been respected well on both sides, and the apex is now only days away, indicating a directional breakout is imminent. The previous trend was bullish, and pennants typically resolve in the direction of the prevailing trend. You might also like: Bitcoin price has bullish signals: what about Minotaurus? Volume has tapered off significantly during this consolidation which is a necessary condition for a proper breakout setup. The decline in trading activity implies that the market is coiling and preparing for its next move. When the breakout occurs, it must be confirmed with an increase in volume to validate the move and avoid a false breakout scenario. An additional point of strength in this setup is the 50-day moving average, which is now sloping upward and pressing beneath the price action. This dynamic support level adds confidence to the bullish case, acting as a safety net and often serving as a bounce zone during corrections. Its presence aligns with other bullish signals, reinforcing the idea that momentum remains in favor of the bulls. Read more: New coin soars as crypto group known for accurate 12,000% calls like SOL, DOGE backs it What to expect in the coming price action With price nearing the apex of the pennant and the 50-day moving average providing support, a breakout is likely in the immediate short term. A volume-backed move could send Fartcoin directly toward the $1.52 resistance zone. Traders should remain alert and ready to execute once confirmation is in place.

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