FET Shows Bullish Reversal After 62% Drop, 45% Rally Imminent?
After the price drop in the past few days, the world’s leading AI crypto token Artificial Super Intelligence Alliance (FET) is expected to take upside action as it reaches key price reversal levels. The decline at this level has dropped significantly by 62% in the ongoing economic tensions between the United States, Canada, Mexico and China.
Analysis of Artificial Super Intelligent Alliance (FET) Technology
According to Coinpedia’s technical analysis, FET appears to have formed a bullish double-bottom price action pattern over the weekly timeframe, with current support level of $0.75, and its history of price reversal. Additionally, the weekly chart of FETs shows bullish differences, which suggests a potential price reversal.
FET price forecast
Based on recent price action and current market sentiment, if the price of AI tokens is above $0.72, it is very likely to reach its first resistance level in the near future, making it possible to increase it by 45%.
On the positive side, Fet Trading above the 200 Index Moving Average (EMA) over the weekly timeframe, suggesting that the asset is on an uptrend.
Bullish chain indicators
As Chain Analytics revealed, this powerful bullish price action has attracted great attention from traders and investors Small shop. At press time, FET’s open interest (OI) surged 25%, indicating a significant increase in open positions over the past 24 hours.
Meanwhile, spot inflow/outflow data suggests that the exchange’s outflow value is $1.09 million FET token, indicating potential accumulation, which could create buying pressure and drive overhead momentum.
When these chain boundary indicators are combined with technical analysis, it appears that the Bulls are currently controlling the assets and potentially bringing the tokens above the critical support level of $0.75.
Current price motivation
FET is currently trading at nearly $0.77, experiencing more than 1.20% price gains over 1.20% over the past 24 hours. However, during the same period, its trading volume increased by 43%, with traders and investors increasing participation compared to the previous day.
