After weeks of consolidation, Solana (SOL) recovery is in progress, but the Fartcoin price is ready to rally and is preparing to revisit $1. Will FARTCOIN, a Solana meme token, lead while SOL remains rangebound?
Solana Meme Coin Fartcoin Price Analysis
Between April 1 and 16, Fartcoin price shot up 117%, but Solana price is up nearly 10%, according to TradingView data. Although the meme token has dropped 25% in the past week, it still has potential to shoot higher and hit the $1 psychological level.
A closer look at the Fartcoin price action on the daily chart shows it’s facing massive selling pressure inside the inverted Fair Value Gap (FVG). This zone extends from $0.822 to $0.989. Failure to find support could lead to a steep correction.
The daily FVG, extending from $0.678 to $0.618, is a critical demand area. This gap was formed as the Fartcoin price shot up nearly 50% on April 9. A reentry into this zone will provide an opportunity for unfilled limit orders to be filled.
Investors looking to buy the dip on this top meme coin can do so as FARTCOIN dips into the $0.678 to $0.618 FVG zone. The Relative Strength Index (RSI) and Awesome Oscillator (AO) are above their respective mean levels, indicating that the bullish momentum is in control. If price retraces, the RSI and AO can revisit and bounce from the 50 and zero mean levels, respectively, further enforcing the idea of a potential reset of bullish momentum.
A bounce from this area, coupled with a bullish Bitcoin price prediction for 2025, could send Fartcoin price to revisit the inverted FVG that stretches from $0.822 to $0.989. A swift breakout and flip of this area into a support floor could propel Solana meme coin Fartcoin price to the $1 key level.
Solana ETF Could Propel Fartcoin Higher
The highly anticipated approval of the Solana ETF could further help boost the outlook for Solana ecosystem tokens including Fartcoin. Tronto exchange has approved the SOL ETF, but the US is yet to approve it.
The US Securities and Exchange Commission (SEC) is set to approve a Spot SOL ETF in Q4 of 2025. This development would open the floodgates for altcoin investments and propel Solana and its top meme token, Fartcoin, price higher.
Until then, FARTCOIN is the go-to altcoin that will not only outperform Solana (SOL), but also Bitcoin (BTC) and Ethereum (ETH).
The post Solana (SOL) Plays Catch Up as Fartcoin Price Attempts $1 Retest appeared first on CoinGape.