Solana’s FARTCOIN Risks 30% Decline in April Amid Weakening Breakout Momentum

Solana-based memecoin, Fartcoin (FARTCOIN), is staring at sharp corrections in the coming days, with its ongoing rally flashing early signs of exhaustion.

Inverse Head and Shoulders Pattern in Play

FARTCOIN surged over 100% in April, reaching a local high of $0.94.

However, a classic technical setup and waning buying pressure raise the odds of a potential pullback toward the $0.67–$0.70 region—a 30% drop from current levels.

Notably, the FARTCOIN price chart reveals the formation of an inverse head and shoulders (IH&S) pattern between February and early April 2025.

This bullish reversal structure saw the token form a left shoulder near $0.37, a deeper head around $0.26, and a right shoulder again near $0.37, with a neckline resistance hovering around $0.67.

Earlier this month, the breakout above the neckline confirmed the IH&S setup, setting a theoretical upside target near $2.14—calculated by projecting the height from the head to the neckline upward from the breakout point.

However, the breakout has lacked the volume typically needed to validate a sustained uptrend. The chart shows that FARTCOIN’s volume profile has declined since the neckline breach, suggesting buyer conviction may be fading.

Retest Risk and Key Support Confluence

With momentum slowing, FARTCOIN risks revisiting the neckline as support. This would align with historical behavior in IH&S patterns, where assets often retest the breakout level before resuming their climb.

The neckline around $0.67 also coincides with the 50-period exponential moving average (50-12H EMA; the red wave) at $0.60 on the 12-hour chart, creating a double-layered support zone.

A drop toward this level would represent a 30% decline from the current price of $0.93.

If bulls fail to defend this area, the breakout could turn into a false signal, potentially trapping late long entries and accelerating a broader correction toward the 50-period EMA and 200-period EMA supports at $0.60 and $0.51, respectively.

The Relative Strength Index (RSI) currently hovers around the overbought threshold near 70, hinting at overheated conditions and adding to the downside risk.