FARTCOIN Faces Selling Pressure After Reaching $0.20
FARTCOIN's 17% weekly breakout encountered abrupt selling as profit-taking disrupted its recovery and intensified liquidation-driven pressure. Before sellers reduced the momentum, the token had risen to $0.20.
During the pullback, a liquidation event occurred when seven wallets suffered large FARTCOIN liquidations within five minutes. Total liquidations reached 65.05 million tokens, valued at $12.93 million, which likely accelerated the decline as traders locked in weekly gains.
Despite the rapid drop, the token remained considerably above the $0.12082 support level that anchored its August recovery, keeping the overall pattern intact.
Exchange Inflows and Spot Flows
Spot flows added a bearish element during the post-rally correction. Netflows settled around $470.15K, following sessions of smaller netflows. Positive netflows typically indicate increased exchange-side supply as tokens flow to trading venues.
While this reading pointed to a short-term supply increase and profit-taking after the 17% price increase, the $470.15K figure remained well behind previous chart peaks, suggesting the activity was consistent with modest profit-taking rather than widespread distribution.
Top Trader Positioning and Technical Levels
Binance top traders maintained a bullish bias despite the price decline. Long accounts accounted for 66.7% of positions, while short accounts stood at 33.3%, yielding a Long/Short ratio of 2.00. However, heavy long exposure also introduces risks of further liquidation if the price continues to decline.
On the technical front, the Relative Strength Index (RSI) cooled down to 62.85 after previously overshooting into overbought territory. Meanwhile, the Parabolic SAR remained below the price at $0.16190, maintaining a positive technical setup above the $0.15348 horizontal support.
Holding above the $0.15348 level could help preserve the weekly recovery structure, whereas losing it would expose the $0.12082 support and point toward a deeper correction.
