FARTCOIN Surges Past Key Resistance, Eyes $2.28 Target in Recovery Toward ATH

FARTCOIN's recent breakout above a pivotal resistance level has fueled an upward trajectory toward $2.28, triggering optimism for a potential return to its all-time high (ATH). This movement highlights a critical turning point for the cryptocurrency, capturing attention across the digital asset space.

CryptoNews reported on October 22 (local time) that FARTCOIN had plunged to as low as $0.80, representing a staggering 50% decline from its May 23 peak of $1.65. Despite persistent bearish pressures, the cryptocurrency managed to stage a gradual recovery, forming an upward trend channel. In a decisive move yesterday, FARTCOIN shattered the upper boundary of this channel, rising over 12% in a single day and closing higher.

Momentum from this breakout remains strong today, with FARTCOIN temporarily reaching $1.69 before consolidating slightly to hover near $1.60. Crucially, this price action positions the cryptocurrency above the former channel boundary, signaling a bullish technical outlook that could further promote price advances.

Charting a Key Milestone in FARTCOIN’s Comeback

This breakout marks a significant recovery milestone, pushing FARTCOIN back to price ranges last seen in late May and early January. Notably, January’s bullish surge catapulted FARTCOIN into a parabolic ascent, culminating in its ATH of $2.61. Examining the current daily chart, there appear to be no substantial resistance levels other than the ATH, presenting ample room for further upside.

Adding to the optimism is yesterday’s candlestick, which confirmed the emergence of a bullish double bottom pattern by closing above the neckline at $1.54. The double bottom’s lows, recorded at $0.86 and $0.80, show minor variance—around 7%. Despite this, both lows successfully rebounded from the same key support level, underscoring decisive buyer interest and validating the bullish setup.

Based on technical analysis, the double bottom pattern projects a price target of $2.28. This projection arises by adding the height of the pattern ($0.74) to the neckline resistance, which is now support at $1.54.

RSI Pushes Toward Overbought Levels, Suggesting Caution

While the overall outlook remains bullish, some caution may be warranted in the short term due to the Relative Strength Index (RSI) climbing to 69, approaching overbought territory. This could signal the possibility of a pullback or consolidation before the next leg up.

Key support levels to watch are found between $1.52 and $1.54, aligning with the neckline of the double bottom and the upper boundary of the previous trend channel. Should market sentiment weaken further, support between $1.30 and $1.32—the site of former highs—will come into focus. A deeper correction could see FARTCOIN testing structural support at $1.25, identified along the lower trendline.

Investors and traders monitoring FARTCOIN's movement should remain vigilant around critical price zones and broader market signals to assess the cryptocurrency's path toward its $2.28 target—or potentially higher. Staying attuned to these dynamics will be essential for navigating the next phase of FARTCOIN’s possible rebound.