FARTCOIN surges 20% as Coinbase announces futures launch

FARTCOIN, a meme coin based on the Solana blockchain, experienced a significant surge of nearly 20% in the past 24 hours, making it the top-performing digital asset of the day. This rally propelled FARTCOIN to a price of $1.27 at the time of writing, with short-term indicators suggesting further upward momentum. However, the risk of profit-taking remains high.

Coinbase has officially confirmed on its platform that it will introduce perpetual futures for FARTCOIN. This development is expected to significantly enhance the visibility and market access for FARTCOIN, potentially attracting more speculative inflows ahead of the futures launch.

Technical indicators for FARTCOIN are showing bullish momentum. The Moving Average Convergence Divergence (MACD) has formed a golden cross, which is typically a bullish sign. A golden cross occurs when the MACD line crosses above the signal line, indicating positive momentum and a potential sustained price rally. These signals often suggest renewed market interest and increased accumulation.

Additionally, the Relative Strength Index (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.