- Analyst called Fartcoin’s 85% breakout and exact peak, with price now 25% lower from his take profit alert.
- A whale bought $1.98M worth of Fartcoin at $0.89 and is now down $297K, after previously losing $701K on the same token.
- RSI has declined to 56.91 while A/D line stays negative, suggesting slowing momentum despite price holding above key support.
Fartcoin has lost nearly 15% in the past 24 hours, falling to $0.7691 as the market cools down following April’s explosive rally. The decline comes after Sjuul, founder of AltCryptoTalk, identified an 85% breakout and shared both the entry and exact peak for profit taking.
According to his statements, the price has dropped 25% since his take profit alert. On-chain data from Lookonchain also notes large scale whale activity, showing a user recently spent $1.98 million to buy 2.22 million Fartcoin at $0.89. That position is now down by roughly $297,000, marking the whale’s second major loss after a prior $701,000 setback.
Sharp Rally, Followed by 25% Decline
On a 12-hour timeframe Fartcoin formed a textbook Cup and Handle, leading to a breakout above key resistance. The pattern’s rounded base and short consolidation handle preceded a surge of 85%, hitting Sjuul’s target.
His posts confirmed the pattern and gave followers a plan, with timestamps validating both the entry and exit. This bullish move played out as projected, but a 24.5% pullback followed shortly after the target was hit.
The pullback appears driven by short term profit taking. However, it is above key support zones, showing no clear reversal for now. The breakout move aligned with higher volume, while the subsequent drop did not erase previous gains. The Cup and Handle’s technical height matched the price rally, showing precision in the forecast shared by Sjuul.
Indicators Show Slowing Momentum
The RSI is at 56.91, down from overbought levels earlier in the month. While the RSI remains above 50, the downward trend shows slowing bullish pressure. The moving average, at 62.26, supports this view of moderation.
The Accumulation/Distribution line is at -130.43 million, still indicating net distribution over time. Despite recent gains, this negative A/D reading shows sell pressure has outweighed buying during past cycles.
Volume is strong, though bullish continuation may require more consistent accumulation. Prices are still holding above $0.70–$0.74, a level that could serve as near term support.
Price Range Narrowing After Hitting $1.00 Resistance
Fartcoin peaked near $3.00 earlier, then entered a long downtrend. A base formed between February and March before April’s recovery. That rally broke through resistance at $0.50–$0.60 and briefly tested the $1.00 level.
Today’s dip of more than 7% marks the start of a correction phase. Reclaiming the $0.85–$0.90 zone with strong volume could reset momentum for another rally. However, falling below $0.70 would expose further downside risk toward $0.60.
