news 
In a remarkable turn of events, a whale has not only transformed their losses into gains but also fueled the upward momentum in Fartcoin’s price action. The asset has seen a staggering 8% increase in just two days, with key indicators pointing to further potential upside.
According to data from reputable tracking sources, the whale initially suffered losses totaling $297,000. However, the situation took an unexpected turn when they decided to sell their entire stash of Fartcoin at a price of $0.92 per token. This strategic decision not only allowed them to recoup their initial losses but also generated a profit of $127,000.
The impressive move has caught the attention of market analysts and traders alike, as it appears that smart money is now firmly behind the asset’s upward trajectory. Furthermore, another whale joined the fray by purchasing 2 million Fartcoin tokens at an average price of $0.85 per token, signaling their confidence in the asset’s potential.
The technical indicators are also painting a bullish picture, with a parallel ascending channel emerging on the daily chart. This structure often hints at a continuation trend, complete with predictable support and resistance levels. In the near term, immediate support is located around $0.82, which serves as the lower trendline of the channel and coincides with the 0.618 Fibonacci retracement.
The current upward momentum suggests that bulls may be targeting a breakout above this zone, at which point the asset will likely face resistance near $0.93-$0.95. A successful breach of this level would unlock a series of Fibonacci-based targets, including $1.07 and $1.52.
In the event that bears manage to push the price below the lower trendline support at $0.82, the 0.786 and 0.618 Fib levels could provide potential catch zones around $0.71 and $0.58 respectively. A breakdown of $0.55 would invalidate the bullish structure and likely lead to a deeper correction towards $0.46 or even $0.35.
As always, it is essential for traders and investors to remain cautious and verify information independently before making any investment decisions.
Source: https://www.coinspeaker.com/whale-turns-losses-into-gains-fartcoin-up-8-percent/
