TL;DR
- The Solana-based meme coin surged in value and popularity in the past few months and even entered the top 100 cryptocurrencies by market cap.
- After skyrocketing by triple-digits since its March low of under $0.2, is FARTCOIN primed for a major correction now?
Recently, FARTCOIN, a meme coin operating on the Solana blockchain, made waves in the cryptocurrency market by achieving impressive gains that have captured the attention of investors and analysts alike. Following a remarkable tripling in value since its March low of below $0.20, FARTCOIN has surged into the ranks of the top 100 cryptocurrencies by market capitalization.
However, market indicators suggest that the coin may be nearing a potential correction. According to the TD Sequential indicator, which is employed to detect market exhaustion after an asset has traded predominantly in one direction for an extended period, a sell signal has emerged on the 3-day chart, as highlighted by noted analyst Ali Martinez. This could imply that investors may begin to take profits following the coin’s impressive rally.
#Fartcoin is up 550% over the past two months, but the TD Sequential is now flashing a sell signal on the 3-day chart, suggesting a potential wave of profit-taking ahead. pic.twitter.com/QiEJHC99At
— Ali (@ali_charts) May 3, 2025
It’s worth noting that FARTCOIN experienced a monthly surge of 260% by April 11, when it first broke into the top 100 altcoins. Although it briefly exited this coveted position after a notable correction later that month, it was quick to rebound and has maintained a solid stance in the market.
Currently priced at $1.11 with a market cap exceeding $1.1 billion, FARTCOIN holds the position of the 85th-largest digital asset, according to CoinGecko.
Yet, Ali Martinez is not the sole analyst indicating a potential downturn for FARTCOIN. Another prominent figure in the crypto community, Captain Faibik, has pointed out the formation of a rising wedge and RSI bearish divergence on the 4-hour chart, suggesting a price drop could bring FARTCOIN down to around $0.72.
Conversely, there are also more bullish sentiments in the market. Altcoin Sherpa has indicated that should the current market structure hold strong without presenting as a fakeout, FARTCOIN could reach new heights of $1.50 or even $2.
Fartcoin: $1.50 or $2 are next levels up as long as current region holds and this isn’t a fakeout pic.twitter.com/yDIDT67dTn
— Altcoin Sherpa (@AltcoinSherpa) May 1, 2025
The current market scenario for FARTCOIN serves as a reminder of the volatility that characterizes the cryptocurrency landscape. As investors weigh their options, the questions surrounding potential corrections versus further surges remain. One thing is certain: staying informed and vigilant is crucial in this ever-evolving market.
