Fartcoin (FART) has dipped 8.16% to $1.07 on July 8, raising concerns among short-term traders. Analysts remain optimistic, however, noting a bullish candlestick pattern that could rally prices to $2.28. Despite continued volatality, this meme coin can potentially hold out before surprising with a massive upside breakout.
The indicators are revealing rising bearish pressure as FARTCOIN breached a major 1-hour chart support at $1.10. The moving averages have moved lower and MACD is deep into red territory showing weakening momentum.
Currently, Relative Strength Index (RSI) is 32, nearly in oversold zone. This indicates that the $1.00 level can become a good support point, and purchasing may proceed from here. However, failure of a decisive bounce above $1.15 would keep market sentiment bearish in the short term.
Breakout Above $1.538 Targets $2.28
With no bullish divergence in sight and a confirmed bearish crossover, traders are urged to exercise caution. If FARTCOIN does not breach $1.15, further losses will likely soon follow. In any case, the token is a high-risk, high-reward option, especially among market stakeholders awaiting a potential reversal setup in days ahead.
Analyst CRG mentioned a bullish inside bar formation—one of the typical indicators found before a large price move. This formation happens when a candlestick is completely inside the range of a previous bar, indicating market indecision. A break out above the mother bar’s range may cause a large price rally.
The inside bar formation’s range lies between $0.795, $1.538, and $0.743. If FARTCOIN breaks decisively above the $1.538 resistance, a rally to as high as $2.28 is here possible based on this projection. This is a breakout target based on technical theory and validates current volume activity showing ongoing buying interest.
FARTCOIN Faces $1.538 Key Resistance
The token maintained high buying volume for the past fortnight in spite of minor downturns. If this trend continues, FARTCOIN may well be on its path to confirming the inside bar break out. Reaching the $2.28 target would amount to a 93% recovery from here and would appeal to market players as well as meme coin enthusiasts.
While FARTCOIN balances between short-term bearishness and longer-term bullishness, all eyes remain on the $1.538 resistance. A successful break can trigger the next major leg higher, powered by both technical build and strong community sentiment behind this popular Solana-based meme coin.
