Fartcoin Price Outperforms Broader Crypto Market, What Next For The Solana Meme Coin?

Fartcoin price has been performing better than the general cryptocurrency market, recording gains in various time frames. The token is 4.9% up over the last 24 hours, 56.5% over the last week and 181.1% over the last 30 days, as per market data.

However, recent on-chain data shows mixed signals about the future of the Solana meme coin.

Recent Capital Flows Are Raising Questions About Fartcoin Price

Fartcoin’s on-chain data almost shows contradictory signals about capital flow in recent days. The biggest, in particular, was on April 15 with a high net outflow of $5.74 million. This is one of the largest single-day capital movements for the token this month. This outflow followed several days of smaller negative flows is a common trend of profit-taking by larger holders.

Prior to this period of outflows, Fartcoin had seen positive capital inflow during early April. The meme coin influx really picked up around April 4. This kind of alternating flow of capital creates a murky picture for Fartcoin’s price.

Understanding capital flows is especially important for meme coins like Fartcoin because they do not normally have any fundamental utility and revenue streams associated with their price, like other coins.

Fartcoin Analysis Shows Cup And Handle Pattern Completion

Fartcoin’s price action is being watched by technical analysts and one analyst has recognized bullish patterns which are potentially good news for those invested in the meme coin. Analyst Sjuul pointed out that Fartcoin’s price action has completed a cup and handle pattern.

He stated, “FARTCOIN just reached our technical target for the Cup and Handle pattern. Simple yet extremely effective!” The analyst claimed to have anticipated this move “way before anyone else,” resulting in “a nice 85% move.”

The cup and handle pattern, visible on Fartcoin’s price chart, shows a rounded bottom formation (the cup) followed by a slight downward drift (the handle) before the recent breakout. This pattern is bullish when confirmed by price action.

Analyst Sherif cited further technical considerations that lend a bullish outlook: “The chart shows solid volume with tight consolidation between $0.90–$0.95. Strong intraday bounce off $0.85 suggests this range is being accumulated.” Sherif further noted that if “bulls clear $0.955 with volume, next leg could tag $1+.”

Not all analysts share this optimistic view, however. Antoine Rousseaux suggested caution with his tweet: “Smart money is leaving $FARTCOIN? Shorting here.”

Meanwhile, CoinGape has analyzed how high the Fartcoin price will go if the Solana price hits $200.

Key Price Levels To Watch

Several critical price zones could decide Fartcoin’s next major move. Analyst CRG notes that the token has been “grinding against yearly open” with “6 attempts at it now.” This suggests persistent buyer interest despite the inability to break through decisively. CRG added that when it “eventually breaks… I expect it to be explosive.”

The near-term resistance appears to be in the $0.95-$0.96 area, where Fartcoin has failed to hold above following multiple retests. A close above at these levels and then we can see a bounce above with a trajectory towards the psychologically important $1 mark.

On the support side, the level identified was $0.85, which provided “strong intraday bounce,” according to Sherif. This level could provide floor support if we see a pullback. Further, two broader support zones were constructed down to about $0.80, which the price just made a comeback from.

Despite the bullish projections, the price of FARTCOIN showed signs of bottoming in the last week amid macroeconomic uncertainties.