crypto.news 2025-04-15 10:28:37

Fartcoin price holds above key moving averages as cup and handle formation hints at another rally

Fartcoin is on track to reclaiming the key $1 psychological level as it holds firmly above key moving averages, defying broader macroeconomic uncertainty. Fartcoin ( FARTCOIN ) has been in the spotlight recently, consistently emerging as the top gainer on CoinMarketCap and CoinGecko despite the broader macroeconomic uncertainty due to Trump’s tariffs. Currently trading at around $0.92, FARTCOIN is up 7% over the past 24 hours, 60% in the past week, and 160% over the past month. It’s now trending back toward the key psychological resistance at $1—a level it last approached in late January. After closing below the $1 mark on March 28 with a daily close at $0.80, FARTCOIN price made a couple of brief attempts to reclaim the level. However, after March 31, the decline resumed as the price continued slipping further below $1 until it ultimately bottomed out at $0.20. This level has emerged as a key support zone and seems to mark the bottom of the cup portion of a developing cup and handle formation — a classic bullish continuation chart pattern that often precedes a significant rally. You might also like: Markets Fartcoin eyes 65% surge as open interest hits ATH, exchange reserves plunge Throughout March, the memecoin ‘s price gradually climbed, regaining lost ground as it completed the right side of the cup. Then, a brief consolidation followed, with a shallow pullback into the $0.85–$0.90 range, shaping what appears to be the beginning of the handle. If FARTCOIN reclaims and then manages to sustain the psychological $1.00 level with increasing volume, it could trigger a bullish continuation move. The key moving averages, including the 20-day Exponential Moving Average and the 50-day Simple Moving Average further support this bullish outlook. A bullish crossover between the two occurred on March 24, signaling a potential trend reversal, and since then, the price has remained firmly above both averages. Adding to the bullish sentiment, the Relative Strength Index is sitting at 69.29, just below the overbought threshold of 70. The move above 70 could confirm the strength of the breakout, although it also raises the possibility of short-term profit-taking. However, as long as RSI remains elevated without diverging from the price, it still supports the case for an upcoming rally. You might also like: News AI agent tokens rally led by Fartcoin’s 25% surge

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