FARTCOIN has bounced back from its recent slump, driven by renewed investor enthusiasm ahead of a potential Coinbase listing.
According to data from crypto.news, Fartcoin (FARTCOIN) rose 23% to hit an intraday high of $1.07 on June 6 before slightly cooling to $1.04 during the morning Asian session. The token is now up 372% from its year-to-date low.
Fartcoin’s market cap has now reclaimed the $1 billion mark. Daily trading volume also doubled to $414 million compared to the previous day, suggesting a significant spike in investor activity.
FARTCOIN’s recent addition to Coinbase’s listing roadmap played a key role in driving the price surge. While this doesn’t guarantee immediate trading, the exchange noted that “the launch of trading for these assets is contingent on market-making support and sufficient technical infrastructure,” and a separate announcement would follow once those conditions are met.
Coinbase’s announcement came amidst a broader market downturn, sparked by rising political tensions between President Donald Trump and Elon Musk, both influential figures in the crypto industry, which shook investor confidence.
Still, the news was enough to spark optimism among Fartcoin traders.
A Coinbase listing is typically seen as a major catalyst, opening the door to millions of new users and liquidity. That anticipation seems to have turned the overall sentiment positive, especially on social media platforms.
Retail enthusiasm was further fueled by whale activity. Smart money tracker Stalkchain reported that a whale recently scooped up nearly $3 million worth of FARTCOIN, which added to the buying pressure. Such large buys from experienced or institutional investors tend to boost confidence among smaller retail holders and often lead to price surges.
Fartcoin price analysis
On the technical front, FARTCOIN is currently testing the upper edge of a broadening wedge pattern on the 4-hour USDT chart, a setup often seen as a bullish reversal signal.
The token is also closing in on its 50-day moving average, with momentum indicators flashing positive signs. Both the Relative Strength Index and Stochastic Oscillator are trending upward, while the MACD just made a bullish crossover, indicating growing momentum.
According to technical analyst Waleed Ahmed, FARTCOIN has formed a bullish Shark Harmonic pattern, which typically points to a strong upside move.
A clear breakout above the broadening wedge could invalidate the recent bearish outlook, which had taken shape after the token fell 47% from May 23, when it broke out of an ascending channel.
Hence, if the bullish momentum persists, the next upside target is around $1.47, which marks the 50% Fibonacci retracement level and a key resistance zone.
However, if FARTCOIN fails to hold above the crucial $1 psychological support, sellers may try to push it down to $0.50, a level that would represent a 61% drop from current prices.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
