Solana-based meme coin FARTCOIN has extended its winning streak, recording another 9% rally over the past 24 hours.
It has outperformed major crypto assets and currently ranks as the market’s top gainer over the past day.
FARTCOIN Rides High with Strong Support
An assessment of the FARTCOIN/USD one-day chart shows that the meme coin now trades well above its Ichimoku Cloud.
The Leading Spans A and B, which comprise the momentum indicator, sit beneath FARTCOIN’s price, forming dynamic support levels at $0.68 and $0.59, respectively. For context, the altcoin trades well above these price points at $0.91.
This setup suggests that FARTCOIN remains in a strong uptrend, with the Ichimoku Cloud offering support in case of any pullbacks.
Traders often see this structure as a signal of sustained buying interest and market confidence. Therefore, as long as FARTCOIN’s price holds above these leading spans, bullish momentum will likely remain intact.
Further, the meme coin’s Relative Strength Index (RSI) remains below 70, which means it has not yet hit overbought conditions, leaving room for further upside. At press time, this indicator, which measures an asset’s oversold and overbought market conditions, is at 68.38.
This RSI reading signals that FARTCOIN is approaching overbought territory but has not crossed the 70 threshold yet. It suggests strong bullish momentum and hints at further price gains before buyers’ exhaustion hits.
FARTCOIN Eyes Major Upside, But Sell Pressure Could Trigger Price Pullback
FARTCOIN’s current position above its Ichimoku Cloud signals that it has not just broken through key resistance levels but is now trading firmly in bullish territory. This indicates a clear shift in market sentiment, with buyers stepping in aggressively to support the rally.
If bullish pressure remains, FARTCOIN could continue its rally and climb toward $1.16.
However, a resurgence in profit-taking activity could invalidate this bullish projection. If sell-side pressure spikes, FARTCOIN could shed some of its gains and fall to $0.74.
If the support floor fails to hold, FARTCOIN risks plunging below the Ichimoku Cloud to exchange hands at $0.19.
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