Fartcoin Jumps After Coinbase Roadmap Reveal–What’s Next for FART

Will Fartcoin Reach $2 After Coinbase Roadmap News Amid Market Crash?

In a shocking twist amidst the continuous crypto market crash, Fartcoin (FART) price spiked over 19% within 24 hours to cross the influential level of $1.00. But what has acted as the catalyst for this explosive move against the general bearish scenario? 

The approval came through the Coinbase announcement about listing Fartcoin-an alleged Solana meme coin-on their official listing roadmap. With an 85% surge in daily trading volume and open interest going parabolic, traders are now asking: Will Fartcoin hit $2?

Coinbase Listing News Triggers Bullish Frenzy in Fartcoin

The news about a possible listing on Coinbase has instigated a euphoric environment surrounding Fartcoin. While most major cryptocurrencies are in the reds, Fartcoin has gone against the trend in strength. Daily trading volume among both centralized and decentralized exchanges has gone past the $400-million mark, indicative of a huge inflow of investor interest.

Furthermore, data coming from Coinglass reveals that open interest on the FART futures has spiked by 24%, now eclipsing $628 million. Such an increase marks an affirmation of the increasingly bullish sentiment and of market participants moving aggressively to position for further upside.

Technical Analysis: FART Eyes Breakout Above $1.10

The altcoin is currently trading at $1.05 and signs indicate strength and room for a bullish breakout. The technicals are in favor of the current attempt to flip the $1.10 resistance to strong support. From a technical perspective, a break above this followed by rising volumes can set the stage for a sustained rally.

The token is within a rising, expanding price channel. If FART continues to defend the lower trendline and put in higher lows, this structure favors an eventual move towards $2. The Relative Strength Index (RSI) seems to be attempting a bullish reversal, which supports such rally potential. 

Source: TradingView

Could $2 Be Next for Fartcoin?

With the news on the Coinbase roadmap backing strong fundamentals, price action remains bullish for now on Fartcoin. The market structure remains intact, with sentiment on the upside. Just a clean break above $1.10 is needed though to put the confirmation of the uptrend in motion. Upon that, FART could see sharp rallying to test $2 here shortly. 

However, caution still works well from here. The current structure also bears some of the markings of the classic bull trap. A failure to hold above the $1.00-$1.10 range and a fall back under $0.92 in support would likely negate the bullish bias and spur a short-term correction

Will FART sustain this explosive move or is it just a market distraction amid volatility? The coming days will be crucial to decide its next big leap.