Fartcoin Surges 13.376% as Major Investors and Coinbase Futures Fuel Bullish Momentum

Fartcoin's latest price was $1.38, up 13.376% in the last 24 hours. This surge in price is attributed to strong interest from major investors and growing interest in futures. A whale re-bought 1.6 million Fartcoins for $2 million USDC, indicating continued interest in the cryptocurrency. This whale had previously made a profit of $368.5K from a Fartcoin trade, highlighting the potential for significant gains in the market. The whale's activities have drawn attention to the strong performance of Fartcoin, suggesting that major investors are bullish on its future prospects.

The open interest in Fartcoin’s futures market has reached a record high, indicating that many traders are making bets on the direction of future prices. The long-to-short ratio stands at 1.0683, suggesting that more traders are betting on Fartcoin to rise, which hints at potential future growth. This bullish sentiment is further supported by the technical indicators, which show a clear indication of rising prices. Fartcoin has recently broken out of a descending channel on the 4-hour chart, signaling a potential trend reversal. Momentum indicators like the Awesome Oscillator (AO) have turned positive, confirming growing upward momentum. Additionally, the rising Money Flow Index (MFI) reflects increasing buying pressure in the market.

From an on-chain perspective, Fartcoin’s current market price sits comfortably above its realized price, indicating that the majority of holders are in profit. The premium of market price over realized value suggests sustained bullish sentiment among investors, potentially paving the way for continued price appreciation in the near term. Additionally, Fartcoin is forming a double-bottom pattern, in addition to its breakout pattern. This indicates that its corrective phase is complete. Following its latest rise, the price of Fartcoin may be set to reach $1.75, which is almost close to the 0.382 Fibonacci level. If the trend holds, Fartcoin could rise up to $2. Nonetheless, if demand decreases, the coin might fall to around $0.70, giving investors a reason to closely monitor market changes.

The sudden increase in Fartcoin is due to strong interest from major investors, growing interest in futures, and Coinbase’s involvement. The addition of Fartcoin perpetual futures to Coinbase’s platform, starting from June 12 at 9:30 AM UTC, is fueling further speculation. The addition of Fartcoin to Coinbase’s future asset list is leading many to believe a spot listing is on the way. This development significantly raises the visibility and potential market access for Fartcoin, intensifying speculative inflows ahead of the futures launch. The technical indicators, such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), show bullish momentum for Fartcoin. The MACD shows that a golden cross has formed, typically a bullish sign. A golden cross occurs when the MACD line crosses above the signal line, pointing to positive momentum and a potential sustained price rally. These signals often indicate renewed market interest and increased accumulation. At the same time, the RSI has climbed above the neutral 50-point threshold, reaching 55.46. While not yet in overbought territory, the current RSI level implies building demand. This aligns with the recent surge in trading activity, which has intensified since Coinbase’s listing update.

Following its climb to $1.27, Fartcoin is now approaching a critical resistance at $1.29. This level marks a short-term barrier that could either strengthen the current uptrend or lead to a local top if bulls fail to breach it. If the price convincingly crosses $1.29 and this level becomes a new support floor, traders may begin targeting the next major resistance at $1.46. This level represents a previous rejection point from late May, and breaking it would suggest a continuation of the coin’s bullish trajectory. However, if sellers begin to offload tokens at current levels, the momentum could reverse. Profit-taking around $1.25–$1.29 may act as a headwind, especially if market sentiment falters or broader crypto markets correct. Despite the short-term strength, downside risks cannot be ruled out. A failure to break $1.29 could result in a retracement to the immediate support at $1.16. This level served as a consolidation zone in early June and may attract buyers looking for a dip entry. If $1.16 fails to hold, the next major support lies at $0.94. This would represent a full retracement of the June rally and could signal a deeper correction. With meme coins often driven by sentiment and speculative interest, any broader shift in market tone could accelerate such a move. Nonetheless, unless significant selling volume emerges, the near-term bias appears skewed towards the upside. The RSI and MACD signals, combined with the Coinbase listing announcement, provide a technical and fundamental basis for continued price action.

Fartcoin could potentially see significant gains ahead amid hype surrounding an upcoming spot listing on Coinbase. According to data, Fartcoin shot up 22% to an intraday high of $1.26 on June 10, pushing its market cap past $1.23 billion, enough to flip Dogwifhat in rankings. Open interest in Fartcoin’s futures market also reached an all-time high, indicating that traders are heavily speculating on further price movements. The long/short ratio on major exchanges is also above 1, signaling more traders are betting long than short, a bullish sign overall. Much of today’s gains followed after Coinbase confirmed plans to list Fartcoin perpetual futures on both its Advanced and International Exchange platforms, starting June 12 at 9:30 AM UTC. Although it’s just the futures for now, traders believe a spot listing could follow, especially since Coinbase had previously added Fartcoin to its assets roadmap. On the technical side, Fartcoin has broken out from the upper edge of a broadening wedge pattern on the 4-hour USDT chart, a setup that’s often seen as a bullish reversal signal. After the breakout, it seems to have found strong support in the $0.86–$0.93 zone. The 20-day simple moving average has crossed above the 50-day, forming what analysts call a golden cross.