Whale Pumps $9.97M into FARTCOIN, Bulls Eye Breakout
Key Takeaways
A crypto whale has returned with a $9.97 million investment in the memecoin Fartcoin (FARTCOIN). This move is generating buzz within the community. Price trends, technical analysis, and on-chain data point toward a potential upward movement. Traders are largely optimistic, with a critical price zone identified at $0.989.
Whale Re-Enters Fartcoin
On April 16, it was revealed that a well-known whale purchased 11.21 million FARTCOIN worth $9.97 million. The investor had previously profited $3.33 million from Fartcoin. Back then, he bought 13.39 million tokens for $8.15 million (avg. $0.61) and later sold them for $0.86 per token.
Currently, the price stands at approximately $0.887 — a slight daily decline of 2.3%, but a recovery from the day’s low of $0.803. Trading volume has dropped by 35% over the past 24 hours, indicating a cautious market sentiment.
On-Chain Data Shows Bullish Picture
Analytics platform CoinGlass reports a long/short ratio of 1.02. This means more traders are betting on rising prices than falling ones. Notably, there is a high volume of long positions at $0.83 ($6.03 million) — a level considered to be support. At the same time, there are short positions worth $2.73 million at $0.885, which could come under pressure if the price continues to rise.
These figures suggest that the market is currently shaped by bullish expectations.
Technical Analysis: Consolidation with Potential
From a chart perspective, FARTCOIN has broken through an “inverted head and shoulders” pattern — a classic reversal signal in technical analysis. Since then, the price has moved within a narrow range, indicating an accumulation phase. Such phases often precede larger price movements.
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A daily close above $0.989 is now crucial. Only then could a rise toward $1.55 become realistic — a potential price jump of around 50%.
Risks from High Leverage Positions
Traders have built up high leverage positions at both $0.83 and $0.885. These so-called “leverage pockets” can lead to liquidations during sudden price moves. This increases volatility and could trigger rapid directional changes in the price trend.
Our Assessment
The re-entry of an experienced whale into FARTCOIN sends a strong signal. Combined with bullish on-chain data and a positive chart setup, this presents a potentially interesting opportunity for traders. However, caution is still warranted: trading volume is declining, and the high leverage in the market carries risks.
Anyone looking to trade FARTCOIN should closely monitor the $0.989 area. Only a sustained breakout above this level could trigger the next upward move. Until then, FARTCOIN remains a speculative investment with short-term potential.
Sources
- Lookonchain
- CoinGlass
- TradingView
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