Solana-based meme coin FARTCOIN is today’s talk of the town. The altcoin has outperformed broader market trends, recording a 28% gain over the past day.
While many assets struggle with declining prices and trading volumes amid recent market troubles, FARTCOIN has seen a surge in both, attracting significant buy orders.
FARTCOIN Defies Market Meltdown
FARTCOIN’s upward momentum is evident, driven by a sharp rise in trading volume. Reflecting on the meme coin’s recent trend, crypto trader “RookieXBT” noted in a March 7 post on X that FARTCOIN is seeing “increasing volume while the world falls apart,” adding that “no other coin is doing this.”
FARTCOIN’s trading volume totals $363 million as of this writing, rocketing over 80% in the past 24 hours.
When an asset’s price rises alongside its trading volume, it signals strong market interest and conviction behind the price move.
FARTCOIN’s high trading volume confirms that widespread participation rather than isolated trades support its rally. This combination is a bullish signal, suggesting the uptrend may have the momentum to continue.
Further, the setup of the token’s Parabolic Stop and Reverse (SAR) indicator supports this bullish outlook. At press time, the dots of the momentum indicator rest below FARTCOIN’s price on the daily chart.
An asset’s Parabolic SAR indicator identifies potential trend direction and reversals. When its dots are placed under an asset’s price, the market is in an uptrend. It indicates an asset’s price is rising, and the rally may continue.
FARTCOIN Breakout Sets Stage for Bullish Continuation or Sharp Reversal
FARTCOIN’s double-digit rally has pushed its price past the key resistance of $0.54, which it had struggled to break above in the past two weeks. If demand strengthens, that price level will solidify into a support floor, and the token’s rally could continue.
In that scenario, FARTCOIN’s price could climb to $0.73.
On the other hand, a failed retest of the $0.54 support floor could trigger FARTCOIN’s price to fall to $0.34.
Disclaimer
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