Goatseus Maximus (GOAT) Token Primed to Break Out From Falling Wedge Pattern Amid Whale Accumulation

Goatseus Maximus (GOAT) token has gained market attention amid significant accumulation in the recent sessions. Truth Terminal's founder Andy Ayrey

Despite a brief rally earlier this week, Goatseus Maximus (GOAT) price appears to be struggling to maintain its momentum. After surging to highs of $0.26 on Wednesday, the token has since lost its grip on these gains, sliding down to trade at an average price of $0.23 at press time.

This recent price action comes amid a broader market sell-off, with apex cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) also facing selling pressure. However, GOAT price has managed to hold up relatively well compared to other altcoins, which have seen steeper declines.

According to data from Lookonchain, a whale recently swapped all their 902,374 FARTCOIN tokens, valued at roughly $1.2 Million, for 3.07 Million GOAT tokens. This massive swap showcases the strong preference of major holders to allocate their assets into GOAT.

🐋 A whale swapped all 902,374 $FARTCOIN ($1.2 Million) for 3.07 Million $GOAT ($0.39) on Pancakeswap V2.

This significant swap between GOAT and FARTCOIN tokens highlights the continuous addition of GOAT by whales in their portfolio, hinting at a potential upward movement. The movement of these substantial holders' portfolios may propel GOAT price away from sellers' reach, indicating a possible trend reversal in the short term.

As large investors step in, GOAT token is set to reverse its narrative and might showcase strong bullishness ahead. A recent post on X by Crypto Bull 360 highlights how GOAT token is primed to break out from the falling wedge pattern soon.

The recent whale accumulation showcases strong confidence in it among large players which could trigger a strong 100%-200% rally in the short term. A breakout from the pattern might propel GOAT price toward 0.44-0.50 quickly.

GOAT Price Prediction: A Reversal in Sight?

On the daily timeframe, GOAT token continues to face selling pressure and trades at its 52-week lower region. A recent pullback of over 16% this week comes after the massive whale activity sparks optimism about a potential trend reversal.

However, the mighty bears have taken over the bull army as the token wiped the weekly gains and came into the red, losing more than 11% in the last 48 hours. Momentum indicators, RSI and MACD, look oversold and signal a short term bounce is possible.

Data from Coinglass shows that Open Interest (OI) shed over 2.30% to $142.39 Million in the past 24 hours. This reduction in OI hints at long positions exiting overnight and a slowdown in trading activity amid recent volatility.

On the price chart, the token trades inside a falling wedge pattern, continuing to form the lower high and lower low swings. A break above the pattern’s downsloping trendline resistance at $0.4000 could indicate a trend reversal.

On the other hand, a break below the $0.2000 level could extend the downtrend, leading the token toward the $0.1700 and $0.1500 levels in the short term.