The post Technical Analysis Shows Mixed Signals After 22% Drop appeared on BitcoinEthereumNews.com.

TLDR Fartcoin (FARTCOIN) fell 22% in two days but has climbed higher from April 18th low of $0.717 A whale sold 2.69 million Fartcoin at $0.92 per coin, securing a $127,000 profit Technical analysis shows bullish potential on daily timeframe despite bearish short-term indicators Funding rate has remained predominantly negative this month despite price gains, suggesting bearish sentiment Kook Capital LLC’s tweet “no one can stop fartcoin 💨” triggered a 52% price surge within 15 minutes on April 20 Fartcoin has experienced significant price action in recent days, with both sharp drops and impressive recoveries. The popular memecoin fell 22% in two days but has been climbing higher from its April 18th low of $0.717. On the daily timeframe, Fartcoin displays a bullish market structure. It broke past the $0.62 resistance in March and appears to have confirmed the $0.72 level as support at press time. The $0.72-$0.8 zone had previously served as an important resistance in early February. The bulls’ recent success in driving the price beyond this level is an encouraging sign for investors. The Relative Strength Index (RSI) signals that momentum remains in the bulls’ favor despite the past week’s pullback from $0.95, which pushed the RSI lower and dimmed the On-Balance Volume (OBV) uptrend. Fartcoin Price on CoinGecko Whale Activity Impacts Market A major market event occurred on April 21 when a whale sold 2.69 million Fartcoin tokens at a price of $0.92, totaling $2.47 million. This transaction resulted in a $127,000 profit for the whale, as reported by Lookonchain. This strategic sale at $0.92 could indicate a potential resistance level for the token, as large volumes at this price point may deter further buying pressure. Following the whale’s sale, Fartcoin’s price dropped to $0.89 within an hour, forming a bearish engulfing pattern on the 1-hour…

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Filed under: News - @ April 21, 2025 4:24 pm