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TL;DR
- FARTCOIN prints a bullish cup and handle, aiming for a breakout if $1.63 flips to support.
- Volume jumps 77% while open interest hits $1.06B, backing up the breakout setup.
- The price stays above rising trendline, with analysts now watching for a potential move to $2.70.
Resistance Test Nears Breakout Point
Fartcoin (FARTCOIN) is pushing through a key price range between $1.60 and $1.63. This level lines up with the top of a Cup and Handle pattern on the daily chart. The setup has formed over the past few months, and the price is now attempting to break out.
If this level holds, the pattern points to a move toward $2.17, which is around 36% above the current zone. The price has stayed above a rising trendline since May, with each pullback finding support and bouncing higher.
On the technical side, the Directional Movement Index shows a bullish setup. The DI+ line has moved above DI-, while the ADX is starting to pick up. That combination points to a trend gaining strength rather than fading.
Volume and Futures Activity Rising
FARTCOIN was trading at $1.65 at press time, up 8% in the last 24 hours and over 32% in the past week. Trading volume is rising fast, reaching $4.4 billion, up more than 77% in one day. At the same time, futures open interest climbed to $1.06 billion, a 7.4% increase.
Meanwhile, this jump in open interest shows more traders are entering the market. Since mid-June, both price and open interest have been trending upward together. That often signals new positions building during a strong move.
Trendline Support Sets Up Breakout
Analyst Professor Moriarty shared a chart showing repeated support at the rising trendline. The asset is now testing the top of the pattern. If it holds above $1.63, a move toward $2.70 could follow, based on past trend moves.
In fact, if the meme coin holds and volume stays strong, it may confirm the breakout. A short pullback to $1.60 that holds could also give another entry point.
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