• GOAT may be getting ready for a massive breakout from a falling trend channel
• Whales have been selling FARTCOIN and buying GOAT instead

At the time of writing, the price of Goatseus Maximus (GOAT) was trading within a falling trend channel. This was evidenced by the fact that its peak of $1.30+ underlined the potential for a significant breakout. Especially if certain conditions are met.

The altcoin was trading at around $0.278 at press time, with a crucial support established at $0.23. This support level must hold to keep the bullish scenario viable, emphasizing the importance of not dropping below this threshold to maintain upward momentum on the charts.

Here, the falling trend channel indicated a pressured downtrend, but recent activities hinted at momentum that could lead to a breach above $0.80. If it breaks through this upper band of the channel and surpass the resistance, it could trigger a 100%-200% bullish rally.

Conversely, a failure to maintain above $0.23 could lead to further declines, testing the lower supports at $0.228 – A level that could see enhanced selling pressure.

Here, the ket to the prediction would be the ability to sustain price movements above the aforementioned resistance and support levels. This could affirm the trend reversal from bearish to bullish.

Whale activity on GOAT and liquidity delta

This discount in GOAT’s price saw aggregated transactions of a whale activity where 902,374 Fartcoin, valued at $1.2 million, were exchanged for 3.07 million GOAT. This swap is symptomatic of a clear preference for GOAT over Fartcoin among major holders.

Whales’ sustained accumulation of GOAT and sell-offs of Fartcoin could mean a bullish outlook for GOAT. As these large holders shift their holdings, they potentially set the stage for Go to Source to See Full Article
Author: Lennox Gitonga