FET Whales Dump Tokens, Pushes Price To 4-Month Low
In the past week, the value of the Artificial Super Intelligent Alliance (FET) has declined significantly. As of writing this article, the transaction price of the AI agent token was $ 1.08, with a minimum from September 2024.
In the case of the decline in whale activities, this price decline is the reason for the decline in whale movement. In recent days, large holders have unloaded a large number of FET token.
FET whale sells shares
According to Santiment, the whale is 10,000,000 and 100,000,000 fet In less than 7 days, the tokens worth more than $ 25 million have been uninstalled, and the value of FET has been reduced by 7 % during this period.
When the whale increases to sell, they uninstall a large number of token to the market, which may cause excessive supply and reduce prices. This surge in sales pressure usually overwhelmed the demand for purchase, resulting in a decline in the value of the token.
The market often responds to these selling and increases uncertainty. If the trend continues, it will further decrease.
and, FET’s load Emotions confirmed the bias of the loser. When pressing, this is -0.41, reflecting the pessimism between market participants.
The weighted emotions of assets measure their overall positive or negative bias. It takes into account the number of social media and the emotions expressed in these mentioned.
When this is negative, it is a loser signal. This means that investors have become more and more skeptical about the recent prospects of token, prompting them to have less trade and lead to a decline in price.
FET price decline: sharply to $ 0.70?
FET’s trading on the daily chart is significantly lower than its 20 -day index moving average (EMA). The average level of the key movement has measured the average price of assets in the past 20 days, making the latest price greater.
When the price of the asset is less than 20 days, it marks the potentially loser, indicating that the price has further declined. If the decline of FET continues to decline, its price may drop to $ 1.02. If this support level cannot be maintained, the value of the token may be further reduced to $ 0.70.
However, the change and right of market sentiment FET will be invalid This point of view. In this case, the price of token may rise to $ 1.29.
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