FARTCOIN Blasts Through Resistance: Aiming for $2.28 and Beyond

FARTCOIN's Price Surge: From the Depths to New Heights

Hold onto your hats, folks! FARTCOIN just smashed through a crucial resistance level and is now gunning for $2.28 as it begins its epic journey back to its all-time high. This memecoin has been on a rollercoaster ride, bottoming out at $0.80 on June 22 after losing over half its value from its May 23 peak of $1.65. But guess what? FARTCOIN has been climbing steadily within an ascending channel, and yesterday it broke out of that channel, soaring over 12% higher by the close. Today, it didn't stop there, rocketing to a local high of $1.69 before easing back a bit to $1.60. Still, it's holding strong above the channel's upper trendline.

Memecoin Mania: FARTCOIN's Path to Glory

This breakout has FARTCOIN trading at levels not seen since late May, and before that, early January, right before it went on a wild parabolic run to an all-time high of $2.61. We're talking serious potential here, folks. With no major resistance levels in sight on the daily chart except for that peak, FARTCOIN could be setting the stage for another epic run.

Double Bottom Breakout: A Bullish Signal

Get this: yesterday's candle blasted through the neckline at $1.54, confirming a breakout from what could be a double bottom pattern. We saw two troughs at $0.86 and $0.80, and even though they're not perfectly aligned, the pattern's still in play. The memecoin's price held a similar support zone and showed clear bullish rejection both times. If this pattern holds, we're looking at a measured move target of $2.28. That's the height of the pattern ($0.74) added to the neckline level. Buckle up!

RSI Watch: Overbought Territory?

But hold on, there's a catch. The RSI is currently sitting at 69, creeping into overbought territory. That could mean a pullback or some consolidation before the next big move. Keep an eye on the immediate support at the former upper trendline of the ascending channel, which lines up with the neckline of the double bottom pattern in the $1.52–$1.54 range.

Support Levels: Where FARTCOIN Could Bounce Back

If things get a bit hairy, the next key support is at $1.30–$1.32, which was the most recent higher low before the breakout and roughly the midpoint of the ascending channel. And if it gets really wild, strong structural support is expected at the lower trendline around $1.25. That could be the line in the sand that keeps FARTCOIN from falling further.