FET rallies 50% – But for more gains, THIS price level should hold
The post FET rallies 50% – But for more gains, THIS price level should hold appeared on BitcoinEthereumNews.com.
FET experienced a sharp decline to $0.34 during the recent market-wide selloff but has since rebounded nearly 50%. On-chain data reinforced stealth accumulation and potential smart money deployment. Artificial Superintelligence Alliance [FET] wicked down to the $0.34 handle during the recent market-wide selloff. However, it has since reversed nearly 50%, flashing signs of strong dip demand. In fact, over the last 72 hours, on-chain and CEX data show over 1 million FET scooped across the spot market. Hence, a clear sign of stealth accumulation. Consequently, market makers are now eyeing $0.34 as a structural support level, potentially front-running a broader leg up. If inflows persist, can FET set the stage for a breakout reversion toward the $1 macro resistance — which was last breached in late January before distribution set in? Weekly growth underpins AI-driven market trend On the weekly chart, the combined market capitalization of AI tokens surged from $21.33 billion to $24.43 billion, highlighting a strong capital influx over the past seven days. FET exemplifies this trend, showcasing solid price action. During this period, FET outpaced large-cap assets with a 47% rally to $0.54 on the 13th of April. Prior to this breakout, its price action was range-bound in a multi-week accumulation zone – a textbook setup for volatility expansion. Source: TradingView (FET/USDT) As mentioned earlier, on-chain outflows and CEX data validate the move, with accumulation trends signaling smart money front-running the breakout. Meanwhile, as capital continues to rotate into AI majors, speculation is mounting around a potential all-time high retest by the end of Q2. Notably, with FET now ranked among the weekly top gainers, spot demand climbing, and technicals aligning for a range breakout, $0.34 may now be established as a structural launchpad. Does this entire setup flip FET’s recent “dip” into a high-risk/reward opportunity? FET’s…
Filed under: News - @ April 14, 2025 10:25 am