FARTCOIN Leads Crypto Market Rally as Coinbase Excitement Grows

FARTCOIN, a meme coin on the Solana platform, is the best-performing asset today, increasing nearly 20% in the past 24 hours. This meme coin has expanded its upward momentum after Coinbase added it to its listing roadmap on 05/06.

Technical and on-chain data shows investors are pricing in the potential Coinbase listing, which typically brings short-term price increases for newly added assets.

FARTCOIN Gains Momentum with Coinbase Support

Since Coinbase announced adding FARTCOIN to its listing roadmap, there has been an increase in trading activity around this meme coin. Technical indicators show a significant increase in buying volume, suggesting the potential for continued momentum.

For example, the Moving Average Convergence Divergence (MACD) indicator for the token shows a Golden Cross has formed. This price signal typically suggests growing upward momentum.

The MACD indicator of an asset determines its trend and momentum in price fluctuations. It helps traders detect potential buy or sell signals through crossovers between the MACD line and signal line. The Golden Cross pattern appears when the MACD line (green) crosses above the signal line (orange), indicating the potential for a price increase in the market trend.

When the MACD line is above the signal line, it shows upward price momentum, suggesting the asset's price may continue to rise. The successful formation of the Golden Cross will reinforce FARTCOIN's upward momentum and drive further profits as demand increases.

Moreover, the Relative Strength Index (RSI) of this altcoin is above the neutral 50 line, showing an upward trend at the time of writing. Currently, it is at 54.56, reflecting demand for FARTCOIN.

The RSI measures an asset's overbought and oversold market conditions. It oscillates from 0 to 100. Values above 70 indicate the asset is overbought and may decrease in price, while values below 30 suggest the asset is oversold and may recover.

FARTCOIN's RSI emphasizes the increasing demand for this altcoin, which could push it to new highs in the short term.

FARTCOIN Approaches 1.46 USD, but Profit-Taking Poses Risks

This meme coin is trading at 1.25 USD, approaching the resistance level at 1.29 USD. If demand increases strongly and FARTCOIN transforms this price level into a support floor, it could open opportunities for a price surge to 1.46 USD.

However, if profit-taking begins, this price appreciation prospect will be nullified. In that case, FARTCOIN may lose its recent gains and drop to 1.16 USD.

If this level does not hold, the FARTCOIN token could further correct down to 0.94 USD.