FARTCOIN, a token that recently experienced a slump, has once again caught investor attention, showing significant growth on the back of rumors about a potential Coinbase listing.
Overview of FARTCOIN
FARTCOIN has exhibited a 23% rise, reaching an intraday high of $1.07 and stabilizing at $1.04 during the Asian morning session. This growth marks a 372% increase from the year-to-date low. The market cap of the token has increased, reclaiming the $1 billion mark.
Impact of News on Market Capitalization
Recent data indicates that FARTCOIN’s addition to Coinbase's listing roadmap has been a key factor driving the price surge. While this does not guarantee immediate trading, Coinbase stated that "the launch of trading for these assets is contingent on market-making support and sufficient technical infrastructure." At the same time, the overall market faced declines due to rising political tensions, impacting investor confidence.
Technical Analysis and FARTCOIN's Prospects
Currently, FARTCOIN is testing the upper edge of a broadening wedge pattern on the 4-hour USDT chart, often seen as a bullish reversal signal. Additionally, the 50-day moving average is showing positive upward momentum. According to technical analyst Waleed Ahmed, FARTCOIN has formed a bullish Shark Harmonic pattern, indicating a potential strong upside move. The next target for an upward move could be around $1.47, marking a key resistance zone.
FARTCOIN displays significant price fluctuations driven by rumors of a Coinbase listing, highlighting the importance of news in the cryptocurrency space and its influence on investment decisions.
