Fartcoin (FARTCOIN) price surged by over 26% on Friday, making it one of the best-performing tokens in crypto.

The ongoing surge coincides with a sharp increase in futures open interest, which hit a record high of $422 million.

Fartcoin price technical analysisThe eight-hour chart shows that Fartcoin’s price has rallied significantly in recent weeks. It broke through a key resistance level at $0.6323 on April 9 as the uptrend accelerated. This level was important as it marked the upper boundary of a cup and handle pattern that had been forming. The C&H pattern consists of a rounded bottom followed by a consolidation phase—the “handle”—before a breakout. In this case, the handle section itself had a rounded structure. The token has also moved above the 50-period moving average, while the Directional Movement Index (also known as DMI) is pointing higher, signaling strong momentum. The DMI is widely used to measure the strength and direction of a trend.Given this setup, the most likely scenario is a continued move higher, with bulls targeting the 50% Fibonacci retracement level at $1.4627—approximately 65% above the current price.