The Solana-based memecoin Fartcoin ($FARTCOIN) has successfully escaped a potential market demise following whale support, staging a remarkable 7.3% recovery over the past 24 hours despite bearish sentiment.
Source: CryptonewsAfter lingering on the edge of a significant downturn following a steep 27% decline over seven days, FARTCOIN has bounced back to trade at $0.9106, comfortably positioned above the crucial $0.805 support threshold.
This recovery has restored its position as the third-largest Solana Program Library (SPL) memecoin, trailing only BONK and TRUMP in market capitalization.
Massive $7.6M FARTCOIN Selloff Creates Market Panic—But Smart Money Came to the Rescue
However, substantial selling activity surrounding FARTCOIN has created market uncertainty, with traders debating whether the recent surge represents a temporary rebound before another decline or the foundation for a sustained rally.
Recent market activity illustrates this selling pressure, with one trader liquidating $478.73K worth of FARTCOIN tokens. Within just six hours, this same wallet disposed of over $1.34M in Fartcoin holdings.
Across the past four days, cumulative FARTCOIN sales from this trader’s wallet have totaled $ 7.6 M.
According to on-chain data, FARTCOIN has become the most heavily sold token by sophisticated investors within the last 24 hours.
Nevertheless, a significant whale has provided crucial support to the memecoin by accumulating $2.25 million worth of FARTCOIN tokens.
This whale acquired 2.4 million FARTCOIN at $0.93 per token. Notably, this investor had previously generated over $4.7 million in profits from FARTCOIN trading activities.
This substantial purchase has encouraged numerous market participants to view the current sell-off as a strategic buying opportunity for FARTCOIN below the $1 threshold.
Top Traders Sound Alarm: ‘Buy FARTCOIN Aggressively Now’
Prominent Solana memecoin trader BONK Guy confirmed that several premium memecoins are currently available at discounted prices. He specifically highlighted FARTCOIN, BINK, FLOKI, and the recently launched USELESS coin.
He emphasized that “these tokens are trading at valuations that many investors would have eagerly pursued just days or weeks earlier,” encouraging aggressive market participation.
Veteran trader and Breakout Prop founder Trader Mayne shared technical analysis suggesting FARTCOIN appears positioned for movement beyond the $1 level.
Price action specialist CryptoUB shared a similar optimistic accumulation perspective. He stated that sophisticated technical analysis isn’t necessary to recognize FARTCOIN’s trajectory toward the $2 psychological resistance level.
CryptoUB confirmed that FARTCOIN remains his primary focus for altcoin trading strategies.
“No other altcoin demonstrates comparable mindshare, intraday volatility, or higher timeframe potential,” he elaborated.
Technical Analysis: FARTCOIN’s Cup-and-Handle Signals $2 Breakout
Examining Crowd Wisdom investing metrics, FARTCOIN’s technical indicators present mixed signals, with RSI displaying bearish characteristics alongside a head-and-shoulders pattern formation.
Conversely, the triangle configuration and Fibonacci retracement levels indicate bullish momentum.
Source: Crowd WisdomSentiment analysis reveals that individual traders and institutional investors maintain optimistic outlooks on FARTCOIN at current price levels.
The FARTCOIN/USDT daily chart shows a textbook cup-and-handle pattern, featuring a rounded bottom “cup” formation and a current “handle” developing as a descending channel or flag structure.
This technical setup typically indicates bullish continuation potential, contingent upon confirmation through a breakout above the handle’s upper resistance line.
The diminishing volume during the handle formation reinforces the bullish scenario, though definitive confirmation remains pending.
Should buyers drive prices above the $1.05–$1.10 resistance zone, a potential surge toward the $1.80–$2.00 target range could materialize.
However, failure to achieve this breakout might result in a retreat toward the $0.70 support area.
Current momentum indicators suggest neutral to slightly bearish short-term conditions, but the overall technical structure favors bullish outcomes if the anticipated breakout materializes.
The post $2M Whale Purchase Rescues FARTCOIN from Collapse — $2 Price Target Within Reach? appeared first on Cryptonews.
