Fartcoin Surges to 12-Week High, Eyes Potential Breakout

Solana-based meme coin FARTCOIN experienced a significant 19% surge over the past 24 hours, reaching its highest level since January 30 and marking a 12-week peak. The increase is underpinned by strong market indicators, including a positive Balance of Power (BoP) and rising Elder-Ray Index values, which signal robust buying activity. At the time of reporting, FARTCOIN was trading at $1.06, close to a major resistance at $1.16. Analysts suggest that if this resistance is flipped into a support level, the coin's price could rally further toward $1.46. Conversely, any profit-taking could reverse this momentum, potentially leading to a sharp decline, with prices falling to as low as $0.74 or even to $0.19. The technical analysis based on TradingView data indicates that while the short-term outlook is bullish, caution is advised as market dynamics may quickly change. No significant upcoming events affecting the coin's price were mentioned in the news.