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Fartcoin (FART) Gears Up for a Major Breakout After 34% Jump

Published
Nikola Lazic
Published
By Nikola Lazic
Edited by Ryan James

Key Takeaways

  • Descending channel breakout attempt.
  • Wave (ii) support is held in the demand zone.
  • Potential upside towards key Fibonacci retracement levels.

FARTCOIN (USDT) signaling early signs of a potential trend reversal after an extended corrective phase that started after the Wave 5 peak at $2.74.

The daily chart shows a completed Elliott Wave cycle, while the 1-hour chart indicates an attempt to break out of a descending channel.

If confirmed, this could mark the start of a new impulsive wave.

FART Price Analysis

The daily FARTCOIN chart illustrates a completed five-wave Elliott Wave structure, with Wave 5 peaking at $2.74 on Jan 20 before initiating a corrective phase.

The price has retraced significantly, approaching key Fibonacci levels, particularly the 0.786 retracement near $0.60, where it found support. A ri

sing trendline connecting previous Wave 2 and Wave 4 lows has held firm, indicating that the broader bullish structure remains intact.

FART price analysis
FARTUSD ascending support bounce | Credit: Nikola Lazic/TradingView 

During the sharp decline, the daily Relative Strength Index (RSI) has approached oversold territory, suggesting that selling momentum could be fading.

Additionally, a downward-sloping trendline from the peak has acted as resistance, with price action currently testing this level.

A successful breakout above this trendline would confirm a potential new uptrend.

A key resistance zone lies between $1.38 (0.5 Fibonacci retracement) and $1.70 (0.382 retracement), which aligns with prior support-turned-resistance.

Reclaiming these levels could reinforce bullish sentiment and increase the probability of a new wave cycle.

FART Price Prediction

The 1-hour chart provides further insight into the immediate price action, highlighting a potential breakout from the descending channel.

The price recently bounced off a demand zone between $0.76 and $0.85, corresponding to a higher time-frame trendline and a Fibonacci retracement level.

This move aligns with an emerging five-wave impulse structure.

FART price prediction
FARTUSD early bullish signs seen | Credit: Nikola Lazic/TradingView 

Wave (i) has formed since Jan. 29, rising $1 on a 38% increase. Interaction with the descending channel resistance is made, but a rejection is more likely than a breakout.

Wave (ii) could lead to finding support in the demand zone. If this structure holds, FARTCOIN is likely in the early stages of Wave (iii), targeting a move towards the 0.5 Fibonacci retracement at $1.38, followed by the 0.382 level at $1.70.

A stronger extension could see price action reach the 0.236 Fibonacci level at $2.10.

For this bullish scenario to remain valid, the price must hold above the Wave (ii) low at approximately $0.80.

A break below this level would invalidate the impulse wave count and suggest further downside risk.

RSI on the 1-hour timeframe is recovering from oversold conditions, reinforcing the likelihood of an upward move in the short term.

Key Levels to Watch

  • Immediate Resistance: $1.38 (0.5 Fibonacci retracement)
  • Key Resistance: $1.70 (0.382 Fibonacci retracement)
  • Major Resistance: $2.10 (0.236 Fibonacci retracement)
  • Immediate Support: $0.90 (demand zone)
  • Critical Support: $0.80 (Wave (ii) invalidation level)
  • Short-Term Target for Wave (v): Above $2.10 if bullish momentum sustains
Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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Nikola Lazic

Nikola Lazic is a cryptocurrency analyst and investor working in the industry since 2017. He holds a bachelor's degree in Sociology, which enables him to better understand the psychology behind the crowd´s positioning. Consequently his preferred analytical tool is Elliott Wave Theory in combination with price action analysis. Combining his experience in trading and investing with knowledge in content writing he strives to bring the most accurate and actionable information. Expertise: Cryptocurrencies, Technical analysis, Elliott Wave Theory, On-chain metrics, Research reports.
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