Date: Sat, May 03, 2025 | 11:30 AM GMT
After a rough start to 2025—where even Ethereum (ETH) slumped by 45% in Q1—the crypto market is finally showing signs of life. ETH has bounced back by over 32% from its April 7th low, and this bullish energy is spilling over into memecoins as well.
One standout performer is FARTCOIN, which exploded with a 195% rally over the last 30 days. However, the excitement is showing signs of cooling off. The coin has dropped more than 8% today, and a closer look at the chart reveals an emerging pattern—hinting that a potential correction might be on the horizon.
Cup and Handle in Formation?
FARTCOIN plunged to a low of around $0.19 in mid-March, marking the bottom of a major downtrend that started earlier this year. Since then, the token staged an impressive comeback, surging by over 572% to hit a local high of $1.28 on May 1st.
But that rally hit resistance hard. As seen on the chart, the price got rejected right near the $1.28 mark—forming what could be the “neckline” of a Cup and Handle pattern. The price has since started pulling back, and if it continues this downward trajectory, it may form the “handle” of the structure.
If this pattern plays out, a drop to the support zone near $0.61 is possible. This level coincides with a key horizontal support area and the 100-day moving average (100 MA), making it a critical zone to watch. Such a correction would represent a 43% decline from the current price of $1.11.
What’s Next for FARTCOIN?
Given the more than 550% rally, a cooldown is not only possible—it might be healthy for the trend. However, it’s worth noting that the Cup and Handle pattern is still in its early stage and unconfirmed. A deeper dip toward $0.61 could validate the setup, while a breakout above $1.28 would completely invalidate the bearish thesis and could trigger another leg up.
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