The remarkable surge of FARTCOIN, driven by a massive influx of whale purchases, sparks hope for a sustainable market recovery. Explore the in-depth analysis featuring technical indicators and key levels to monitor.
Memecoins like FARTCOIN have faced tough times in recent months. However, this controversial token seems to be bouncing back, driven by massive accumulation by market “whales.”
After plunging over 90% from its all-time high, FARTCOIN has begun a spectacular recovery, surging 110% from its lows at $0.20. This rapid rise coincided with a major investor acquiring nearly 54% of FARTCOIN’s daily trading volumes, equivalent to $671,000 in a single transaction.
With this move, the “whale” now holds 3.2 million FARTCOIN tokens, amounting to approximately $1.3 million. This significant capital influx reflects the growing interest of savvy investors in this memecoin.
Besides the liquidity influx, the technical aspect of FARTCOIN also shows encouraging signs. After hitting a bottom around $0.20, the price bounced back to break through the 50-day moving average and the upper resistance zone.
The formation of a “rounded bottom,” a classic chart pattern signaling a trend reversal, reinforces the hypothesis of a sustainable recovery. Moreover, the daily RSI also shows this “rounded bottom” indicating investor accumulation.
If FARTCOIN manages to stay above this crucial zone, it could trigger a new bullish wave towards $2.50-$2.75.
Additionally, the MACD indicator has just turned positive, indicating a renewed positive momentum in the market.
The massive capital inflow, strengthening technical fundamentals, and return of bullish sentiment in the crypto market suggest a brighter future for FARTCOIN. If this pattern persists, the memecoin could revisit its all-time highs in the months ahead.
In the short term, FARTCOIN shows a bearish divergence on RSI in 1H and 3H. A brief retracement between 41 and 37 cents could occur in the coming days. However, whale accumulation might reignite FOMO and lead to further growth.
You can buy FARTCOIN, the humorous memecoin making waves on Solana exchange on Weex. Here’s a practical guide to buying the memecoin:
Here’s a practical guide to buying FARTCOIN on Weex exchange now :
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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