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Fresh Wallet Buys $21.5M in HYPE and $2.12M in Fartcoin: Bullish Run or Bearish Turn Ahead?
HYPE gained over 2.5% intraday, approaching the $48.80 resistance after holding support between $45.57 and $45.85.
Fartcoin trades between $0.8066 and $1.1695, with RSI at 47.11 and MACD showing mild bullish momentum.
Both assets remain within established ranges, with breakouts above resistance needed for confirmed bullish continuation.
A newly created wallet, identified as 0xa523, has executed major acquisitions on Hyperliquid. On-chain data shows the wallet deposited 23.52 million USDC, using the funds to purchase 466,421 HYPE valued at $21.5 million and 2.16 million Fartcoin worth $2.12 million.
HYPE/FARTCOIN Current Market Action
Tracking the ongoing price trend at the time of press, CoinMarketCap data reveals that HYPE and FARTCOIn have been in a close bullish range that almost looks identical. During the Asian trading session, HYPE opened it market with a price value of $45.65 which preceded with continuous wave of gains to the current market levels marking over 2.5% in daily gains.
Source: CoinMarketCap
Fartcoin followed a different trajectory, starting near parity before declining sharply mid-session. Losses deepened past -15% overnight before stabilizing slightly above that mark. FARTCOIN opened its market at $1, confirming a over 1% dip in its position. With a low of $0.9487 and a high of $1.15, the market has recorded a bearish trend
Will this Pattern Support More Surge for HYPE?
The ongoing price movements have caused analysts to weigh in on whether the assets purchased by the new wallet will record another story. According to Barry's observation, it is notable that HYPE has approached but did not reach its previous all-time high before entering a correction phase. The analysis reveals that price action retraced to test lower levels, with the current support zone identified between $45.57 and $45.85
Source: X
The structure indicates a higher low formation from early August, showing sustained upward momentum since breaking the $42.00 level. Resistance lies near $48.80, which must be cleared for the price to retest the all-time high target. A shorter-term channel supports the ongoing movement, with the next key price action expected around the defined resistance area. Consolidation phases remain visible within the move, providing structural support for continued advances if higher levels are maintained.
What About Fartcoin: Can Bulls Reclaim Their Position?
According to a TradingView technical analysis, it is notable that the Fartcoin price has recently rebounded from the $0.8066 support level and is moving toward the $1.1695 resistance zone. Over the past months, the chart shows multiple swings between these levels, reflecting alternating upward and downward moves
Source: TradingView (Fartcoin/USD Chart)
As of writing, the Relative Strength Index (RSI) stands at 47.11, with the signal line at 43.07, indicating mid-range momentum. The Moving Average Convergence Divergence (MACD) line is at 0.00773, slightly above the signal line at -0.05045. The histogram currently reads -0.05818, with bars near the zero line, showing minimal divergence.
The broader structure indicates sustained trading activity between the established support and resistance levels. At present, the indicators lean neutral-to-mildly bullish. Momentum is stabilizing after recent downside moves, but confirmation of a sustained bullish phase would require a breakout above the $1.1695 resistance.