Solana-based meme coin FARTCOIN has soared 11%

This rally follows Donald Trump's Truth Social post praising the TRUMP token, igniting renewed interest in meme assets.

Solana-based meme coin FARTCOIN has risen 11% amid the ongoing meme coin frenzy. The rally follows Donald Trump’s Truth Social post praising the TRUMP token, stirring renewed interest in meme assets.

Technical indicators suggest an increase in buying activity on FARTCOIN, hinting at the possibility of a continuation of the rally.

FARTCOIN witnesses strong buying pressure

FARTCOIN has been rallying since dropping to a year-to-date low of $0.19 on March 10. The meme coin, currently trading at $0.59, has seen a 200% price surge since. It’s also trading within an ascending parallel channel.

This bullish pattern is formed when an asset’s price moves between two upward-sloping parallel trendlines, indicating a sustained bullish trend. The lower trendline acts as support, preventing the price from falling further, while the upper trendline serves as resistance.

Traders often view this pattern as a sign of steady buying pressure and potential price continuation as long as the asset remains within the channel. This means that the longer FARTCOIN stays within the channel, the stronger its rally becomes.

Additionally, the positive reading from FARTCOIN’s BBTrend supports this bullish outlook. At press time, the indicator shows a green histogram bar—the first in 43 days—highlighting renewed upward momentum.

The indicator measures the strength and direction of price trends using Bollinger Bands. When the indicator turns green, it signals increasing bullish momentum, suggesting that buying pressure is growing. If buying activity remains high, this indicates the potential for further FARTCOIN price gains.

FARTCOIN bulls aiming for $0.95—will the rally continue?

A break above the upper trend line of its ascending parallel channel, which provides significant resistance, would strongly confirm FARTCOIN’s uptrend. In this case, the meme coin’s price could move towards $0.95, a high it last touched in January.

However, if market sentiment shifts bearish and profit-taking increases, FARTCOIN’s price could drop below the lower trendline of its ascending parallel channel to reach $0.42.