- If Fartcoin successfully closes a daily candle above $ 0.989, this can collect 50% to reach $ 1.55.
- Traders are excess with $ 0.83 at the bottom and $ 0.885 at the top.
In the midst of market uncertainty, Fartcoin [FARTCOIN] Seems to get considerable attention from crypto -whales.
Whale eyes on Fartcoin
On April 16, blockchain-based transaction tracker Lookonchain Posted on X (formerly Twitter), revealing that a crypto -walvis has spent $ 9.97 million to buy back 11.21 million Fartcoin.
The whale that previously benefited $ 3.33 million from Fartcoin has been re -introduced the market, which indicates a potential buying. Initially, the whale spent $ 8.15 million to acquire 13.39 million memecoins for an average price of $ 0.61, so that they were later sold for $ 0.86.
At the time of the press, Fartcoin traded in the vicinity of $ 0.887, with 2.30% dropped in the day, but recovered from a low of $ 0.803.
In the meantime, the 24-hour trade volume fell by 35%, which is a reflection of cautious market participation in the midst of wider turbulence.
On-chain statistics become bullish
However, the on-chain analysis company Coinglass has shown that traders have shown a strong interest in and trust in the memecoin.
According to the data, the long/short ratio of Fartcoin was 1.02, which indicates a strong bullish sentiment among traders. This metric also shows that traders who bet on the long side actively dominate.
Source: Coinglass
In fact, traders had stacked $ 6.03 million in Longs around $ 0.83 support.
Conversely, they had $ 2.73 million in shorts near $ 0.885 resistance, now flirting of liquidation as the price climbed.
Source: Coinglass
When comparing the positions of traders, it seems that long positions are relatively higher than short positions, indicating that the bulls are back and currently actively dominate.
Moreover, technical indicators remain constructive, which strengthens the bullish prospects.
Fartcoin’s technical analysis and the coming level
According to the technical analysis of experts, Fartcoin recently broken from a bullish inverted head and shoulder price pattern on the daily period and is currently consolidated within a tight range.
This continuous consolidation seems to be a bullish sign for the memecoin, because it looks like an accumulation area.
Source: TradingView
Moreover, leverage bags emphasized important risk zones. Traders were excess at $ 0.83 on the disadvantage and $ 0.885 at the top, tightening of price action.
In summary, Fartcoin’s whale accumulation, bullish positioning and breaking the card all point to the upward potential.
However, a decisive daily close to $ 0.989 remains crucial for confirmation.
