Is FARTCOIN Headed for a Correction? This Emerging Pattern Suggests It Might Be

Date: Sat, May 03, 2025 | 11:30 AM GMTAfter 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.Source: CoinmarketcapCup 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.FARTCOIN Daily Chart/Coinsprobe (Source: Tradingview)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.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.