Is Fartcoin poised for a rebound? Key levels to monitor

Over the last 16 hours, FARTCOIN’s price declined by approximately 3.67%, settling at $0.6138 on Binance.
The Open Interest for FARTCOIN derivatives stood at 68.665 million, showcasing sustained market involvement.

Fartcoin [FARTCOIN] has recently experienced significant market activity, with its price, whale accumulation, and other indicators suggesting a potential recovery despite short-term bearish trends.

Price trends show potential

Over the last 16 hours, FARTCOIN’s price declined by approximately 3.67%, settling at $0.6138 on Binance. The hourly chart highlighted a bearish pattern with lower highs and lows, reflecting continued selling pressure.

Source: Coinglass

However, the Relative Strength Index (RSI) at 37.15 signaled a potential turnaround as it approached oversold levels.

This suggested that the bearish momentum may be slowing, and the stage is set for a reversal if buying interest emerges, thus aligning with the whales’ idea to accumulate.

Whale influence driving optimism

Recent activities by whales, underscore growing confidence in FARTCOIN’s prospects.

Whale 1 converted 14,779 JITOSOL ($3.66 million) to purchase 5.5 million FARTCOIN, bringing their total holdings to 8.39 million coins valued at $5.52 million.