Whale Buys $1.37 Million FARTCOIN Amid Sell Signals, What’s Next?

Jakarta, Pintu News – Fartcoin (FARTCOIN) experienced significant selling pressure, dropping to $1.19 after hitting $1.40 last week. Crypto analyst Ali Martinez warns of a potential deeper correction, supported by a descending triangle pattern and bearish technical signals.

Nevertheless, the big buy by a whale raises hopes for a potential altcoin rally. This article discusses the state of FARTCOIN in terms of technicals and market sentiment.

Whale Buys $1.37 Million of FARTCOIN

On May 19, Fartcoin (FARTCOIN) was trading around $1.19, down about 6.5% in the last 24 hours at the time. This price drop has wiped more than $130 million off the market capitalization, as a correction after last week’s price surge that reached $1.40.

Read also: 3 Altcoins that Have the Potential to Set an All-Time High in the Third Week of May

As the 64th largest cryptocurrency, FARTCOIN is experiencing a cooling phase. Popular crypto analyst Ali Martinez warns that FARTCOIN may be entering a correction phase.

Based on the TD Sequential indicator on the weekly chart, a sell signal has appeared for FARTCOIN.

Martinez mentioned that the price could potentially drop to $0.98 or even $0.68 if the selling pressure gets stronger. However, despite these negative signals, a whale is known to have bought as many as 1.14 million FARTCOIN tokens, worth about $1.37 million.

According to on-chain data from LookonChain, these large investors are actively buying Solana (SOL) based meme coins.

Interestingly, this investor has pocketed a profit of $658 thousand from a total investment of around $5.86 million. This action comes amid speculation from a number of crypto analysts – including Arthur Hayes, co-founder of BitMEX – who predict an altcoin rally in the near future.

FARTCOIN Price Outlook

According to CoinSpeaker (5/19), on the 4-hour chart, FARTCOIN formed a descending triangle pattern since May 11, where the highest price is getting lower and lower and continues to press the support zone at $1.19.

Read also: 4 Altcoins Ready to Steal the Crypto Community’s Attention in 2025

This technical pattern shows increasing selling pressure, with a potential drop towards $0.98, as projected by analyst Ali Martinez.

The RSI indicator is currently at 44 with a downward direction, indicating weakening momentum and no signs of trend reversal.

If the price breaks below the current level, the $1.07 and $0.98 areas will be important support zones for traders to watch.

Meanwhile, the Bollinger Bands are starting to widen, and the price is approaching the lower band – a signal that the downtrend is likely to continue. However, if the price is able to break back above the middle band (20-day SMA) around $1.24, then this bearish pattern could be canceled.

In terms of the MACD indicator, the MACD line has crossed below the signal line, with the histogram showing a negative signal – reinforcing the bearish sentiment.

Therefore, market participants need to watch the $1.19 support level closely, as a decisive price movement from this point could determine the next direction.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, experience web trading with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinspeaker. Whale Buys $1.37M Fartcoin Despite Sell Signal. Accessed on May 20, 2025