The Solana-based meme cryptocurrency FARTCOIN has maintained its successful streak, posting a 9% increase in value in the last 24 hours. It has surpassed major digital assets, making it the top-performing asset in the market on a daily basis.

Analyzing the FARTCOIN/USD chart for one day reveals that the meme coin is trading well above the Ichimoku Cloud. The Leading Spans A and B, components of the momentum indicator, are positioned below the coin's current price, forming dynamic support levels at $0.68 and $0.59. Despite this, the altcoin is trading comfortably above these price points at $0.91, indicating a strong upward trend and receiving support from the Ichimoku Cloud in case of any pullbacks.

Traders view this setup as a sign of sustained market interest and confidence, with bullish momentum likely to persist as long as the coin's price remains above the leading spans. The Relative Strength Index (RSI) for FARTCOIN indicates that it has not reached overbought conditions yet, with the current value standing at 68.38. This suggests that there is potential for further price gains before reaching overbought territory, showcasing strong bullish momentum.

Despite anticipating further upward movement, potential sell pressure could trigger a price correction for FARTCOIN. While the coin's position above the Ichimoku Cloud signals a break through key resistance levels into bullish territory, a shift in market sentiment indicates strong buyer support. The coin may continue its upward trend towards $1.16 if bullish momentum prevails. However, increased profit-taking activity could challenge this projection, leading to a decline in value to $0.74. Failure to hold the support level could see FARTCOIN dropping below the Ichimoku Cloud to trade at $0.19.