The Fartcoin price has rallied by more than 100% since its local bottom earlier this month, trading as high as $0.40 on Wednesday.
One of the most popular meme coins is back to its bullish ways.
The Fartcoin price has rallied by more than 100% since its local bottom earlier this month, trading as high as $0.41 on Wednesday before a pullback.
The meme coin flipped several key resistance levels in its post-FOMC rally.
The question is whether sidelined investors should FOMO buy now for a ride to new all-time highs, or wait for a better entry point. Fartcoin price predictions from prominent analysts appear to be leaning towards the latter.
Why Is Fartcoin Rallying?
Prominent crypto analyst CRG has called Fartcoin the “ultimate crypto risk on/off barometer”, an apt description.
Given Fartcoin’s high mindshare and latent demand, it demonstrates strong bullish strength whenever the broader market sentiment improves.
Macro analysts like GMI’s Julien Bittel had already indicated a strong likelihood of an explosive crypto rally in the second quarter, owing to the soaring Global M2 money supply. Bitcoin could potentially hit a new all-time high in the coming quarter and Fartcoin is simply front-running the rally.
The Fartcoin price has rallied by more than 100% since its local bottom of $0.198, trading as high as $0.41 on Wednesday.
Following the post-FOMC rally, the meme coin flipped its 4-hour 200 exponential moving average for the first time in over a month. In fact, TradingView’s technical analysis is giving it a “buy” signal in the 4-hour chart and a “strong buy” signal when considering only the moving averages indicators.
If the broader market sentiment remains stable and continues to improve, Fartcoin could see an explosive bullish continuation in the coming weeks. However, sidelined investors should still exercise caution.
Fartcoin Price Prediction — FOMO Buy Now?
Sidelined investors should avoid FOMO buying Fartcoin at its current level, at least not until it flips the $0.40 S/R level.
The meme coin has struggled to break through this resistance in previous attempts, both in late February and again in early March. A closer look at the Fartcoin chart above reveals that it failed to flip the resistance into support twice on Thursday as well, forming a potential double top in the 4-hour timeframe.
Fartcoin’s RSI also appears to be in a downtrend after tagging the overbought 70 level twice this week. It could dip further to the 30 overbought mark, contributing to the selling pressure on the meme coin.
Fartcoin price predictions from prominent analysts also convey the same idea. For instance, Altcoin Sherpa, who is bullish on Fartcoin in the long term, suggests that it needs to flip the $0.38 – $0.40 range for a rally to $0.65.
Is Solaxy A Better Alternative?
Considering the broader market uncertainty, low-cap presale tokens are in high demand.
Solaxy (SOLX) has already established itself as one of the hottest low-cap cryptos on the market, with over $27 million already raised in its presale.
Solaxy is the first prominent Solana layer-2 coin, designed to tackle the network congestion issues on the Solana main,net during periods of heavy traffic.
Backed by a cutting-edge ZK rollup, data availability tools like Celestia and a Hyperlane-powered multi-chain bridge, Solaxy is building a fast, scalable and interoperable Layer-2 chain.
The project has caught the attention of whales, with many investing six figures into SOLX. The latest deep-pocketed investor purchased nearly $200k worth of Solaxy last week.
These whales believe SOLX is undervalued during its presale, considering the top Ethereum and Bitcoin Layer-2s have multi-billion-dollar valuations. The fact that their investment is safe from the broader market uncertainty due to the ongoing presale also helps.
In fact, there is a strong possibility that Solaxy goes live on top CEXs amid the Q2 bull run.
Unsurprisingly, prominent analysts are bullish on its upside potential, with many eyeing up to 10x returns from their investment.
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