In the cryptocurrency market, the memecoin Fartcoin has made a strong breakout after a clean consolidation period.
The altcoin surged over 10% with a notable increase in volume after being trapped within a predetermined range. On-chain data indicates that a newly created wallet spent approximately 1 million USDC to purchase 1.06 million FARTCOIN, signaling the return of bulls to the market. Analysts suggest this could potentially initiate a 30% upward wave in the altcoin.
Breakout Movement in Fartcoin
After days of a narrow consolidation process, Fartcoin has entered a parabolic recovery trend. The altcoin was stuck between critical resistance and support levels of $0.69 and $0.971. Bulls established the necessary pressure to break through this range, and the increase in volume confirmed the price rise.
Altcoin Fartcoin
The recent breakout indicates that Fartcoin has reached a significant turning point in the short term. The volume chart recorded a sudden spike, interpreted as a signal of strength in the bullish trend. Investors are taking positions for short-term profit opportunities.
Rising Volume and Investor Interest in Altcoin
According to data from the on-chain data platform Lookonchain, a newly created wallet address spent $1 million in USDC to purchase 1.06 million FARTCOIN in recent hours. This transaction increased the buying pressure on the altcoin. Market depth and interim price movements also support this trend.
The increase in volume indicates that bulls are taking control. Investors are viewing price movements below the key resistance area of $1.3 to $1.4 as accumulation opportunities. Analysts believe that if this level is broken, the price could refresh records and reach new peaks.
