Whale Reverses Losses as Fartcoin Surges Nearly 9.76%
Fartcoin (FARTCOIN) rose by 9.76% in 24 hours, trading at approximately $0.9090 as of April 21. This increase followed significant whale activity that reversed previous losses and boosted market momentum.
Whale Activity
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<li A whale reinvested after incurring a loss of $701,000, purchasing 2.22 million FARTCOIN at $0.89 for 14,725 SOL ($1.98 million).
<li The whale sold 2.69 million FARTCOIN at $0.92, securing a profit of $127,000.
<li Another whale bought 2 million FARTCOIN for $1.7 million at an average price of $0.85, indicating expectations for future gains.
Technical Analysis
Fartcoin is currently moving within a parallel ascending channel, suggesting the potential for continued upward movement.
Support and Resistance Levels
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<li Immediate support at $0.82 (lower trendline and 0.618 Fibonacci retracement).
<li Immediate resistance between $0.93–$0.95 (upper trendline).
<li If the price holds above $0.95, targets may reach:
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<li $1.07 (1.618 Fib extension)
<li $1.52 (2.618 Fib extension)
<li $1.97 and $2.25 (extended bullish scenario)
Bearish Risks
A drop below $0.82 could lead to further testing of the 0.786 ($0.71) and 0.618 ($0.58) Fibonacci levels. A decline below $0.55 would invalidate the bullish outlook and potentially lead to deeper corrections towards $0.46 or $0.35.