Trading King

06/08 09:28

What’s Next for the Fartcoin Price Rally?

What’s Next for the Fartcoin Price Rally? Will it Reach $2?

Fartcoin price is trading around $1.04 to $1.05 at press time, while the technicals are hinting towards the token attempting to flip the previous resistance into support. A clean break above $1.1 could open the path toward a more sustained rally, especially if accompanied by increasing volume and positive market sentiment. 

The above chart shows that the FARTCOIN price is on a growth trajectory as it defends the lower support by triggering a strong rebound. While being in the rising expanded channel, the price is expected to take a steep rise towards the resistance or maintain a consolidated ascending trend, which includes a couple of corrections, and reach $2. The RSI is trying for a bullish reversal, which substantiates the bullish claim. 

However, caution is warranted, as the current pattern could also form a classic bull trap, particularly if price action fails to hold above the key levels. The local support for the Fartcoin price rally remains around $0.93, which is the recent low. A drop below this level would likely invalidate the short-term bullish setup.

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