Ethereum Surges 6% as Fartcoin Faces Bearish Breakdown

As the third quarter of 2025 begins, the cryptocurrency market continues its upward trajectory from the second quarter, with Ethereum (ETH) leading the way, trading near $2,615 and up 6% in the last week. This momentum has sparked interest in various altcoins and memecoins, with one notable exception being Fartcoin (FARTCOIN), which has turned red and is at a critical juncture following a bearish breakdown.

FARTCOIN's chart mirrors the breakdown structure of Hyperliquid (HYPE), another cryptocurrency. Both cryptocurrencies experienced a breakdown from a similar wedge pattern, with HYPE finding support at its 100-period moving average (100 MA) and managing a short-term bounce. FARTCOIN, following a similar pattern, has also landed near its 100 MA support, raising the possibility of a near-term relief rally if the price holds this level.

If FARTCOIN continues to mimic HYPE’s movement, it could see a bounce from this support zone toward the wedge’s resistance trendline around $1.15, or even a retest of the upper area of the previous rising wedge. However, a breakdown below the $1.00 support would invalidate this bullish fractal idea and likely confirm continued weakness. In that scenario, FARTCOIN could slide further down into the broader falling wedge, with downside targets near $0.95 and $0.93, both historically tested support zones.