The meme coin FARTCOIN, built on the Solana network, has unexpectedly stood out by performing well in the past month. Despite challenges in the overall market, the altcoin has seen a remarkable 250% surge in value within the last 30 days.

Concerns are emerging about potential exhaustion among buyers, which may lead to profit-taking actions by holders of FARTCOIN aiming to secure their profits.

FARTCOIN has entered the overbought zone, as indicated by its price surpassing the upper band of the Bollinger Bands indicator, reflecting a state where the meme coin is now considered overbought.

This situation indicates that FARTCOIN's current price level may not be sustainable, hinting at a probable decline in the near future. Additionally, the Relative Strength Index (RSI) for the token also suggests an almost overbought status, standing at 69.09 at present.

The RSI, ranging from 0 to 100, identifies market conditions of overbought or oversold assets. With FARTCOIN's RSI at 69.09, it implies the meme coin is close to being overbought, potentially signaling a weakening upward momentum that could lead to a price correction.

It is posed that if the current positive trend weakens, FARTCOIN may experience a temporary correction, possibly retracing to $0.74. A further downside could see the asset testing support at $0.37.

Conversely, if FARTCOIN sustains its upward trajectory, it could aim for a rally towards $1.16.