- Fartcoin whale “73FtSU” sold 2.18M tokens for $2.3M, securing a $251K profit.
- Fartcoin trades at $1.01 with a 6.53% gain; RSI at 24.71 signals an oversold zone.
- If support holds, Fartcoin may rebound toward the $1.5B market cap milestone soon.
Fartcoin whale has drawn attention by selling 2.18 million FARTCOIN tokens, valued at $2.3 million. The whale, identified by the wallet address “73FtSU,” sold 2.18 million FARTCOIN worth around $2.3 million, as per Lookonchain data. The move earned the investor a tidy $251,000 profit after holding the tokens for just two months.
Large whale sell-offs often ripple through the crypto market. In this case, the scale and timing suggest the whale may be locking in gains or adjusting risk exposure. Given their influence, such moves can sway sentiment, sparking broader market reactions, particularly in lower-cap tokens.
Currently, Fartcoin holds a market cap of $1.01 billion. The token recently declined 6.53%, trading at $1.01, while 24-hour volume decreased 29% to $156.77 million. This heightened activity shows robust market interest despite mixed technical and on-chain signals creating volatility concerns.
Fartcoin Breaks Key $1.00 Support Level
Despite the price uptick, the whale’s profit-taking suggests some holders are cautious. A technical analyst highlighted that Fartcoin broke below its key $1.00 support level with high trading volume. The Relative Strength Index (RSI) at 24.71 shows oversold conditions, yet the MACD remains negative, hinting at further downside risk.
Traders are advised to exercise caution as the token approaches resistance at $1.00, potentially offering shorting opportunities. The volume-to-market-cap ratio stays strong at 15.06%, supporting liquidity but underscoring possible near-term price swings due to profit-taking and technical weakness.
The positive note remains that Fartcoin’s rising support line holds firm for now. A bounce here could spark another bullish attempt toward surpassing the $1.5 billion market cap milestone. However, a decisive break below this trendline could erode confidence, risking a sharp downturn.
Also Read: Bitcoin Bull Run Stalls as Whales Trigger Major Sell-Off Above $100K
Bearish Patterns Emerge Amid Critical Price Levels
Fartcoin is now precariously balancing on a decisive technical boundary with its support trendline, which is still moving upward. The level has become the market’s focal point, as a solid bounce from here could pave the way for a renewed attempt towards another touch of the $1.5 billion market cap barrier.
Although this pattern is currently higher, the data seems to point towards further decreases. An emerging “death cross” configuration in the exponential moving averages—where short-term EMAs cross below long-term EMAs—is primarily a signal of longer-term declining markets.
As of now, there is still optimism for an upward price rally. If the buyers take control of the situation and manage to rise above the $1.20 resistance, the surge would be rapid. This would likely set Fartcoin on an upward path toward $1.53, realigning the long-term trend and countering the increasingly bearish market.
Also Read: Which 5 Projects Meet the Criteria for the Best Crypto to Buy This Week?