FARTCOIN is gaining momentum thanks to large buying power – Are the Whales starting a new cycle?

FARTCOIN is drawing attention strongly in the market as it continues to make a spectacular breakout in the past 24 hours. This impressive increase extends a recent growth streak, bringing the total surge to 105% within just one month.

At the time of writing, signals from the market indicate the potential for a strong breakout in the near future. However, for the bullish trend to be sustained, FARTCOIN still needs to overcome some important resistance levels.

Whales simultaneously accumulate FARTCOIN

The latest increase of FARTCOIN seems to be closely related to the accumulation moves by three large whales. According to data from Lookonchain, these three wallet addresses have spent a total of 5.6 million USD to buy FARTCOIN – a figure capable of sparking a wave of expectations within the investment community.

Typically, large-scale accumulation patterns like this – especially when accompanied by increasing market demand – often serve as a precursor to strong breakouts. The recent price action of FARTCOIN clearly reflects this pattern.

This also means that the market is opening up attractive opportunities for spot traders, especially when they view the actions of whales as a "green light" signal to participate vigorously.

Source: SolscanNotably, the weekly net flow data on exchanges shows strong demand from the spot investor group is increasing. During this period alone, they have net bought FARTCOIN worth 1.74 million USD.

As of now, the demand from this segment has been continuously growing for the past four weeks – a trend reinforced by stable buying power and a spreading optimistic sentiment.

Other factors driving the rise of FARTCOIN

Traders in the derivatives market are playing a key role in the impressive recent surge of FARTCOIN. Currently, the level of interest from this group is at an all-time high.

As of the time of writing, the open contract volume (OI) of FARTCOIN in the derivatives market has recorded a significant increase. Specifically, the number of new contracts has risen by 22% compared to a few days ago, bringing the total value to 559.97 million USD.

Source: CoinglassWith a funding rate of 0.0195%, Bitcoin Magazine suggests that this upward momentum is likely driven by traders' expectations of the next rally in the market.

When the funding rate remains in the positive region and approaches the equilibrium mark, it reflects an increasing demand from buyers – a sign that market sentiment is leaning towards the bulls. And this is exactly what is happening with FARTCOIN in recent days.

Source: CoinglassIn other words, the current trend of FARTCOIN is very strong, with investor sentiment clearly leaning towards the possibility that the price will continue to fluctuate significantly in the near future.

The trading volume also surged impressively, reaching 3.18 billion USD – equivalent to an increase of 84%. In the context of the upward momentum still being intact, the big question now is: How far will FARTCOIN continue to reach?

Is the rise of FARTCOIN about to pause?

However, the current upward momentum of FARTCOIN may temporarily stall as this cryptocurrency approaches strong resistance levels above.

Source: TradingViewThe first resistance level to overcome is the $1.17 mark – an important barrier on the technical chart. If successfully surpassed, FARTCOIN will face three subsequent resistance zones, with the farthest target aiming for the peak of $2.47.

In the case of maintaining the upward momentum and breaking out from $1.17 to $2.47, FARTCOIN could yield an impressive profit of up to 134%.

The two key factors to achieve this are – strong upward momentum and limited selling pressure at the aforementioned resistance levels.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.

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