Fartcoin (FARTCOIN) fires on all cylinders as charts signal more upside

Fartcoin (FARTCOIN) has jumped to $0.60, its highest level since February 11, and is up 180% from its lowest level this year.

Fartcoin (FARTCOIN) price has risen to $0.60, its highest level since February 11, and is up 180% from its lowest level this year. This rebound has pushed its market cap to $510 million.

The meme coin is now the third-biggest on the Solana (SOL) ecosystem, as it continues to recover from last week’s sharp decline. The recent price action in Bonk (BONK) saw it get past the $0.045 level and rise by 35% over the past seven days.

The price movements in Dogwifhat (WIF), and Popcat (POPCAT) also saw them surge by over 20%. As a result, the market cap of all Solana meme coins has risen from $7.5 billion last week to $8.6 billion today.

This rally in meme coins also comes as other cryptocurrencies have bounced back. Bitcoin managed to cross the $88,000 milestone, while Ethereum moved above $2,000. Most altcoins have also rebounded, and the market cap of all cryptocurrencies hit $2.87 trillion.

The rally accelerated on Monday after media reports suggested that Donald Trump’s reciprocal tariffs would exclude highly industrial items like cars, semiconductors, and smartphones. This also explains why U.S. equities rose sharply, with the Dow Jones, Nasdaq 100, and S&P 500 increasing by over 1.5%.

Launched in October last year, Fartcoin was one of the best-performing meme coins as it went from $0.012 to $2.70. Its market cap also rose from less than $22 million shortly after launch to over $2.4 billion.

Fartcoin price has formed a bullish pattern

The daily chart shows that Fartcoin bottomed at $0.2015 this month and then staged a slow recovery to the current $0.60. It is now hovering at its highest level since February.

Fartcoin is also trading at the 78.6% Fibonacci retracement level. Most importantly, it is forming a rounded bottom pattern, which is characterized by a gradual, U-shaped curve. This pattern often signifies a shift in market sentiment as selling pressure eases. In some instances, the rounded bottom is a crucial part of the formation of a cup and handle pattern.

Momentum indicators like the Relative Strength Index and the MACD have pointed upwards, meaning that it is gaining momentum. Therefore, it will likely continue rising as bulls target the key resistance point at $1.3732, the 50% Fibonacci retracement level. This target is about 135% from its current level.