FARTCOIN (FART) Price Soars After Whale Buys $1.37 Million of Tokens

Nevertheless, the big buy by a whale raises hopes for a potential altcoin rally. This article discusses the state of FARTCOIN in terms of technicals and market sentiment.

An ounce of prevention is worth a pound of cure, and in the fast-paced world of cryptocurrencies, staying ahead of the technical signals could be crucial to avoid significant losses.

As Fartcoin (FARTCOIN) trades at $1.19, with a 6.4% price decrease in the last 24 hours and a 12% decrease over the last seven days, its market capitalization has been wiped off by $130 million.

The 64th largest cryptocurrency is currently experiencing a cooling phase after last week’s price surge, which reached as high as $1.40.

However, a large investor, known as a "whale," has been accumulating FARTCOIN tokens.

According to on-chain data from LookonChain, the whale has bought as many as 1.14 million FARTCOIN tokens at an average price of $1.206, for a total value of $1.37 million.

These large investors are also actively buying Solana (SOL) in particular.

The crypto whale is actively buying #Solana (SOL) again.

Just bought 1.14M FARTCOIN for $1.37M.

Previously:

Bought 2.92M POPCAT for $1.26M.

Bought 381M MEW for $1.21M.

Bought 67.44B BONK for $1.28M.

Bought 1.48M WIF for $1.4M.

Still holding 36,000 SOL and has made $658K profit from these trades.

It seems like they are on a mission to accumulate as much crypto as possible.

What do you think they will buy next?

The post A crypto whale just bought 1.14M Fartcoin (FARTCOIN) for $1.37M and is still buying appeared first on CryptoSlate.

While FARTCOIN has been heating up recently, with a 380% price increase since the beginning of the year, the TD Sequential indicator has spotted a sell signal on the weekly chart, as pointed out by crypto analyst Ali Martinez.

“Fartcoin could witness a corrective phase toward $0.98 or even $0.68 as the TD Sequential presents a sell signal on the weekly chart! ”

According to the indicator, the sell signal appeared on May 12, and the price could potentially drop to $0.98 if the selling pressure gets stronger.

However, if the price manages to stay above the indicator, then it could continue to rise toward $1.80 or even $2.38.

But despite these negative signals, a whale is known to have bought as many as 1.14 million Fartcoin (FARTCOIN) tokens, which are valued at about $1.37 million.

These new additions to the whale’s portfolio bring the total FARTCOIN holdings to 1.2 million tokens, and the total value invested in the meme coin is approximately $1.44 million.

The post A crypto whale just bought 1.14M Fartcoin (FARTCOIN) for $1.37M and is still buying appeared first on CryptoSlate.

According to CoinSpeaker, on the 4-hour chart, FARTCOIN has formed a descending triangle pattern since May 11.

The highest price is getting lower and lower as it continues to press the support zone at $1.19.

This technical pattern shows increasing selling pressure, with a potential drop towards $0.98, as projected by analyst Ali Martinez.

The RSI indicator is currently at 44 with a downward direction, indicating weakening momentum and no signs of trend reversal.

If the price breaks below the current level, the $1.07 and $0.98 areas will be important support zones for traders to watch.

Meanwhile, the Bollinger Bands are starting to widen, and the price is approaching the lower band – a signal that the downtrend is likely to continue.

However, if the price is able to break back above the middle band (20-day SMA) around $1.24, then this bearish pattern could be canceled.

In terms of the MACD indicator, the MACD line has crossed below the signal line, with the histogram showing a negative signal – reinforcing the bearish sentiment.

Therefore, market participants need to watch the $1.19 support level closely, as a decisive price movement from this point could determine the next direction.