The price of Fartcoin has retired from its highest point this month and at risk of a greater inconvenience as smart money investors sell and exchange balances.
The last check on Sunday, Fartcoin (Fartcoin) quoted at $ 1.20, 14.35% less than its highest point this month.
Nansen’s data show that the number of intelligent money investors who have the Fartcoin token fell to 37 on Sunday, below the maximum of this month of 44. These investors collectively have 727 million tokens, much more logical than the maximum of 740 mills last month.
Smart money investors are closely followed because they are considered more experienced and sophisticated. These investors can be institutions, funds or people who have demonstrated profitable behavior in the chain.
It is likely that intelligent money investors will sell Fartcoin tokens to obtain profits after the currency increased by almost 500% from its lowest point in April. They can also go out because they expect the Token to reversed next week.
Another red flag for Fartcoin’s Token is that the number of tokens in exchanges has continued to increase in recent days. There were 174.29 million tokens in centralized and decentralized exchanges such as Raydium, Kraken and Kucin, an increase of 9.48% compared to last week.
The growing exchange balances are usually a SYME signal but sine that investors are moving their chips from their cold wallets to exchanges to sell them.
FARTCOIN PRICE TECHNICAL ANALYSIS
The daily table shows that Fartcoin’s price increased from a minimum of $ 0.20 in March to $ 1,4677 earlier this month. This rally helped cause the recent increase in Solana (Sol) Memecoins, which helped change its market capitalization from $ 6 billion to $ 15 billion today.
On the positive side, the price of Fartcoin remains above 61.8% of Fibonacci recoil and the 50 -day mobile average. However, it has also formed a growing wedge pattern, a popular bearish investment sign in technical analysis.
Therefore, the perspective is bassist if it is below the resistance point to $ 1,4677. A movement above that level will aim at more profits at $ 2. However, there is also the risk that the Fatcoin price falls below $ 1.
