Solana-based meme coin Fartcoin has emerged as today’s top gainer, soaring 14% within the past 24 hours. The price jump follows Coinbase’s announcement that the meme-inspired token has been added to its official listing roadmap.
With technical indicators pointing bullish, FARTCOIN appears poised to ride this wave of momentum further.
FARTCOIN Rockets Higher as Buying Pressure Intensifies
Coinbase’s announcement of FARTCOIN as part of the assets joining its listing roadmap has triggered a resurgence in demand for the meme coin. This is reflected by the 103% spike in trading volume that has accompanied its price jump over the past day.
When a surge in trading volume accompanies an asset’s price rally, it suggests that strong market participation is driving the upward movement. FARTCOIN’s high trading volume reflects increased investor interest and confirms the legitimacy of its price action.
This trend confirms the bullish sentiment in the market and points to the potential for continued upward momentum.
Furthermore, the meme coin’s positive Balance of Power (BoP) highlights the buying pressure among spot market participants. As of this writing, this momentum indicator stands at 0.50.
The BoP indicator measures the strength of buyers versus sellers in the market. When its value is positive, buyers dominate. It indicates strong buying pressure among FARTCOIN traders and hints at the potential for continued upward price movement.
Can FARTCOIN Flip Resistance? Bulls Aim for Higher Ground
At press time, FARTCOIN trades at $1.04. Should the current buying momentum hold, the altcoin could break through the $1.16 resistance level and establish it as a new support floor. A successful breakout may pave the way for an extended rally toward $1.46.
However, if bearish pressure returns, FARTCOIN could retrace its recent gains and slide back to $0.79, a level it last reached on April 20.
Bitrue