- Whale’s $4.7M FARTCOIN sell sparks debate over price direction and sentiment
- FARTCOIN shows resilience at $1.08 support amid high volatility and consolidation
- RSI and MACD signal bullish momentum, but caution grows near overbought levels
A high-profile FARTCOIN investor brought in a sudden price swing Wednesday, selling nearly $5 million worth of the surging meme coin after massive gains. Arkham data shows this investor accumulated $2.4M worth just two months ago (at $0.20-$0.30); their position hit $10.4M today before profit-taking.
Seizing the opportunity from the massive price increase, the whale liquidated $4.7 million at an average price of $1.18. Despite selling millions, they still hold a $5.57M FARTCOIN position and converted $5.14M profit into USDC stablecoins. This strategic exit sparks market speculation.
Price Consolidates Near $1.10 After Volatile Swing
Currently, FARTCOIN is trading at $1.11, marking a modest 2.54% increase in the last 24 hours. The price chart shows an initial dip, followed by a steep rally, and now a consolidation phase. This sideways movement includes significant volatility, suggesting indecision among traders.
Related: Fartcoin Meme Coin Joins Billion Dollar Club After 16% Price Rally
Key support has emerged at $1.08, the day’s lowest price. This level has acted as a rebound point during intraday dips. Another crucial support level lies at $1.10, which has been tested several times and reflects both psychological and technical strength.
On the resistance front, $1.17 stands out as the immediate ceiling. It marks the day’s high and has triggered selling pressure multiple times. Just below it, $1.15 has also proved to be a stubborn level, rejecting price advances during the ongoing consolidation.
High Activity, Bullish Indicators Remain
Market activity is high, with a 24-hour trading volume of $447.57 million. This translates to a robust volume-to-market-cap ratio of 40%, indicating healthy investor interest and active trading. With nearly the entire supply of 999.99 million FARTCOIN in circulation, liquidity remains strong.
Technical indicators also point to growing bullish momentum. The RSI has climbed to 64.56, inching toward the overbought threshold. This suggests that buyers are still dominant, though caution is advised as it nears overheated levels.
Related: Fartcoin (FARTCOIN) Price Prediction 2025-2030: Will FARTCOIN Price Hit $5 Soon?
Furthermore, the MACD confirms the bullish sentiment. The MACD line remains above the signal line, and the widening histogram adds weight to the upward trend. A recent bullish crossover remains intact, reinforcing a positive short-term outlook.
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