FARTCOIN price explodes 18% as it tracks toward ATH retest

FARTCOIN price is printing a fresh leg up as momentum flips bullish, putting a retest of ATH within reach.

Fartcoin (FARTCOIN) price has surged 18% in the past 24 hours, currently trading at $1.53.

With this surge, FARTCOIN price has broken above the local resistance of $1.47, which marked the previous higher high, and is now printing another leg up. The next immediate target is around $1.60, a key level defined by the higher high prior to the rally that pushed the price toward ATH of $2.60 in mid-January.

Beyond that, another resistance lies at $2.20, which marks the daily closing highs from the time the price reached ATH. Once that is cleared, the path is open to retest the ATH, which would place FARTCOIN in the price discovery territory.

Momentum indicators support the bullish outlook. The RSI is at 62, still below overbought levels, and the MACD is on the verge of a bullish crossover, with bearish momentum fading as red histogram bars disappear.

That said, the rally may soon face short-term exhaustion due to increased profit-taking at current levels. According to smart money tracking platform StalkChain, FARTCOIN was the most sold memecoin yesterday — a sign that smart money could be rotating out. However, there is potentially room for more upside before that happens because the RSI is well below 70 and buyers are still in control as evident by price action above 20 EMA and green volume bars.