tl;dr
The FET price has experienced a significant decline, dropping over 40% in the last 30 days and an additional 20% in the past week. This downward trend is in line with the broader weakness in artificial intelligence tokens, with technical indicators pointing to continued bearish momentum. While mid-s...
The FET price has experienced a significant decline, dropping over 40% in the last 30 days and an additional 20% in the past week. This downward trend is in line with the broader weakness in artificial intelligence tokens, with technical indicators pointing to continued bearish momentum. While mid-sized whales have been selling, larger holders are accumulating, creating uncertainty about whether a bottom is forming. The ADX confirms strong downside pressure, and EMA lines maintain a bearish structure, indicating key support and resistance levels that could determine FET's next major move.
The number of addresses holding FET has shifted, with mid-sized holders selling while larger whales are accumulating. FET's ADX suggests intensifying bearish momentum, and the DMI indicates that sellers are firmly in control. The EMA lines are in a bearish formation, potentially leading to a test of support at $0.69 and a breakdown below that could result in a drop below $0.50. However, a shift in momentum could push FET price toward resistance at $0.94 and potentially higher levels.
FET whales have shown mixed signals recently. The number of addresses holding between 100,000 and 1,000,000 FET dropped from 404 to 389, while those holding 1,000,000 to 10,000,000 FET increased from 166 to 180. This suggests that mid-sized holders are selling while larger FET whales are accumulating, leading to a shift in the market. Tracking whale activity is crucial as their movements often impact price trends. With FET down 15% in the last 24 hours and nearly 50% in the past month, this pattern could indicate either a potential bottom or continued volatility.
FET’s ADX is currently at 49.4, nearly doubling from 24.8 in just two days. This sharp increase signals that the strength of the current trend is intensifying, reinforcing the ongoing market direction. Meanwhile, DI has dropped from 14.5 to 5.7, while -DI has surged from 19.6 to 37.3, peaking at 48.1 earlier. This confirms that sellers are firmly in control, and unless DI starts rising, FET price could face further downside pressure.
FET’s EMA lines are in a bearish formation, with all short-term lines below the long-term ones. If the current downtrend remains strong, FET could test support at $0.69, and a breakdown below that could lead to $0.59. If selling pressure persists, the price could drop below $0.50 for the first time since December 2023, threatening its position as one of the most relevant artificial intelligence cryptos in the market. However, a shift in momentum could push FET price toward resistance at $0.94. A breakout above this level could see it test $1.11, with further upside potentially bringing it back to $1.34.