The Fartcoin price jumped 10% in the last 24 hours to trade at $0.44581

The FARTCOIN price on the 12-hour chart presents a strong bullish breakout following a prolonged falling wedge pattern.

The Fartcoin price shot up by 10% in the last 24 hours to reach $0.44581 by 10:24 p.m. EST as trading volume rose by 4% to $124 million.

This surge follows a 191% rally from the 2024 lows, indicating a potential shift in market sentiment.

While still trading 62% below its all-time high, Fartcoin's price action on the 12-hour chart suggests that a sustained bullish breakout could be in the works.

This breakout occurs after a prolonged falling wedge pattern, which is generally considered a bullish reversal pattern.

The price action has also moved above the 50-day Simple Moving Average (SMA), further indicating a shift in momentum.

The 200-day SMA at $0.74 could pose some short-term resistance before the price of Fartcoin continues its upward journey.

Meanwhile, the Relative Strength Index (RSI) stands at 63.25, approaching overbought territory (above 70). However, it's not yet overextended, suggesting strong bullish momentum.

The Moving Average Convergence Divergence (MACD) line (blue) is above the signal line (orange), confirming bullish momentum. The green bars on the histogram are also increasing, indicating some strength in buying pressure.

FARTCOIN/USDT Chart Analysis (Tradingview)

What Next For Fartcoin Price

According to the FARTCOIN/USDT chart analysis, the Fartcoin price could encounter resistance around $0.74 (200-day SMA). A successful breakout above this level would confirm further bullish continuation.

If momentum persists, the next major resistance is at $0.85, representing a 191% increase from current levels.

Conversely, a pullback could occur if RSI enters overbought conditions, potentially pushing FARTCOIN to retest the $0.30 support before further upside.

This content is for informational purposes only, and it's not intended to provide investment advice. Always conduct your own research and invest at your own risk.

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