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Crypto Potato 2025-07-08 14:46:28

Why is the FARTCOIN Price Down Today and is There More Pain Ahead?

Why is the FARTCOIN Price Down Today and is There More Pain Ahead?

TL;DR Whale activity has triggered a considerable market reaction and sharp price drop. RSI and MACD show neutral signals as FARTCOIN consolidates near key support at $1.087. Futures open interest climbs to $755.84M while volume spikes 51.92%, hinting at building volatility. Whale Offloads $1.57M in FARTCOIN on Binance A whale wallet has sold 1.459 million FARTCOIN for 10,509 SOL, valued at approximately $1.57 million, according to OnchainLens using data from Nansen. The average selling price was $1.07. The same wallet had purchased these tokens for 5,171 SOL (about $606,000) three months ago, resulting in a profit of $963,000. A whale has sold for 1.459M $FARTCOIN for 10,509 $SOL ($1.57M), at a price of $1.07, and deposited it into #Binance . The whale bought these $FARTCOIN for 5,171 $SOL ($606K), 3 months ago, making a profit of $963K. Address: AGF8NeiyY4zhFLuFW4qRQyFLRvNhuDsNsHYVD8435yNG Data… pic.twitter.com/aoOJXb2F8D — Onchain Lens (@OnchainLens) July 8, 2025 Meanwhile, the tokens were deposited into Binance shortly after the sale. The transaction size and timing have drawn attention as it coincided with a pullback in FARTCOIN’s price. Price Drops After Whale Movement FARTCOIN was trading at $1.10 at press time, reflecting a 24-hour drop of 7.38%. Over the past week, the cryptocurrency is down 1.23%, according to data from CoinGecko. The decline followed the whale’s transaction, though it is unclear whether the sale directly caused the dip or was part of a broader trend. Crypto analyst Budhil Vyas pointed out that “$1.087 is a key support level” and warned that “if this level breaks, we may revisit $0.95.” Traders are watching the $1.21 resistance closely, which is considered a breakout level if price closes above it. Technical Indicators Remain Neutral On the technical side, the Relative Strength Index (RSI) is at 49.18, slightly below its moving average of 50.14. This places the token in a neutral momentum zone. Neither bullish nor bearish momentum is dominant at the moment. FARTCOIN/USDT I-Day Price Chart | Source: TradingView The MACD shows a recent bullish crossover. While this may suggest early buying pressure, the trend remains weak and unconfirmed. In addition, according to Coinglass, FARTCOIN futures open interest has increased by 2.22% to $755.84 million. Trading volume also surged by 51.92%, reaching $2.23 billion. The rise in open interest, along with the steady price, may signal an upcoming move. The post Why is the FARTCOIN Price Down Today and is There More Pain Ahead? appeared first on CryptoPotato .

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