Fartcoin Stays Resilient Amid Market Turmoil
On Monday, Fartcoin’s price remained stable as both stock and crypto markets took a hit due to teh ongoing trade war. Fartcoin,a popular Solana meme coin,was valued at $0.4755, marking a 35% increase from its lowest point this month.
It has outperformed major cryptocurrencies like Bitcoin, Solana, and Cardano, with a 135% surge from its year-to-date low. Several factors could drive Fartcoin’s price higher in the near future.
Investors are still buying Fartcoin despite the crypto sell-off. According to Nansen data, the number of tokens on exchanges has decreased over the past few days. Exchange balances fell by 3.62% in the last week, from 143.86 million to 138.65 million.
This indicates that investors are moving their tokens from exchanges to self-custody. CoinCarp data shows that the number of Fartcoin holders has remained steady, with over 113,395 holders. Many investors have not sold during the market crash.
Recent Fartcoin profit leaders are maintaining their positions, suggesting they expect the price to rise. The four-hour chart shows bullish technicals that could push the price higher. It has formed a descending channel and is near the upper boundary.
This channel is part of a cup and handle pattern, a bullish continuation setup. If the pattern holds, Fartcoin could reach $1.2286, a 160% increase from current levels. Though, a crash below $0.355 woudl invalidate the bullish view and point to further downside.
