Artificial Superintelligence Alliance

Rally

bullish

View

The Artificial Superintelligence Alliance (FET), the leading crypto-AI token is gaining significant attention from crypto enthusiasts following a notable 25% price surge in recent days. Despite this impressive performance, FET is poised for another rally as it has formed a bullish price action pattern on its daily time frame.&nbsp;  
<h2 class="wp-block-heading" id="h-fet-technical-analysis-and-upcoming-level">FET Technical Analysis and Upcoming Level</h2>  
According to expert technical analysis, <a href="https://coinpedia.org/price-prediction/fetch-ai-fet-price-prediction/" rel="noopener noreferrer nofollow">FET</a> recently broke out from a falling channel price action pattern and closed a daily candle above a crucial resistance level and this pattern. This price action has shifted FET’s sentiment from a downtrend to an uptrend.&nbsp;  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/11/07222130/FETUSDT_2024-11-07_22-21-22.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/07222130/FETUSDT_2024-11-07_22-21-22-1024x449.png" alt="" class="wp-image-377216"></a>
 <figcaption class="wp-element-caption">
 Source: Trading View
 </figcaption>
</figure>  
Following the breakout and candle close, there is a strong possibility that the asset could soar by 25% to reach the $1.78 level in the coming days. However, achieving this 25% rally will not be easy, as there is a minor hurdle at the $1.51 level, which may act as a resistance in the coming days.  
FET's bullish thesis will remain valid only if it stays above the $1.31 level, otherwise, it may fall.  
<h2 class="wp-block-heading" id="h-fet-s-bullish-on-chain-metrics-nbsp">FET’s Bullish On-Chain Metrics&nbsp;</h2>  
<a href="https://www.coinglass.com/currencies/FET" target="_blank" rel="noopener noreferrer nofollow">On-chain</a> metrics further support FET’s positive outlook. According to the on-chain analytics firm IntoTheBlock, large transaction volume for FET has surged by 61%, indicating strong participation from whales and institutions amid bullish sentiment and the recent breakout.  
Additionally, this significant increase in large transactions suggests a bullish outlook for FET holders and points to a potential buying opportunity.  
In addition to transaction volume, FET’s open interest has increased by 8.5% over the past 24 hours, indicating growing trader positions as market sentiment begins to shift.  
As of this writing, FET is trading near $1.41 and has experienced a price surge of over 2.15% in the past 24 hours. However, during the same period, its trading volume dropped by 43%, indicating lower participation from traders and retail investors.

Breakout Alert! FET Price Poised For 25% Rally

Table of Contents

CoinPedia News

Other articles published on Nov 7, 2024

StakeStone and Plume Unlocking New Potential Yields Across RWAfi and Liquid Staking Assets

Bitcoin Rockets to a New All-Time High as Trump Secures White House, BTC Eyes $90K

Bitcoin and Gold Report from JP Morgan! "These Two Events Will Support the Rise in BTC!"

Ripple Abruptly Moved 470 Million XRP. Here’s the Destination

0G.AI Node Sale on Fjord: Decentralised Capital Formation Meets Decentralised AI

OpenSea Unveils Major Upgrade to NFT Marketplace, Set to Launch in December

Join our free newsletter for daily crypto updates!