Assessing FET’s breakout – Could it hit $3.30 with $500M backing?
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TRNR committed $55 million toward a $500 million fundraise to acquire FET, building the largest AI-token treasury in U.S. markets. Active Addresses rose 15.90% and Exchange Outflows outpaced inflows, supporting a shift toward accumulation over speculation. Interactive Strength (TRNR), a Nasdaq-listed fitness equipment firm, announced plans to raise $500 million to acquire the Artificial Superintelligence Alliance [FET]. With $55 million already secured from ATW Partners and DWF Labs, this move sets up the largest AI-token treasury among public U.S. firms. Their collaboration with Fetch.ai also integrates AI-powered blockchain solutions into fitness and health tech. As a result, this institutional endorsement reinforces long-term investor confidence. Moreover, it adds significant credibility to FET’s use case beyond speculation, potentially attracting even more capital from corporate treasuries seeking AI-aligned blockchain exposure. A classic breakout pattern sets the stage for a bold FET move Following this announcement, FET held firm above a key support level after a textbook breakout from a rounding bottom pattern. Such formations often signal the end of accumulation phases and the start of a bullish reversal. In fact, FET’s price setup has now mapped out clear upside targets at $1.00, $1.25, $1.60, $2.20, and $3.30. This classic technical pattern often signals a reversal of downtrends and a return of bullish sentiment. Price action supports this view, with improving market flows, increased institutional involvement, and active on-chain participation. If buyers maintain control during this consolidation phase, it could lead to a significant upward movement. Source: X/Jonathan Carter Is FET becoming scarce on exchanges? FET Exchange Reserves have dropped by 7.43%, leaving just $334.78 million available on centralized platforms. This suggests that investors are steadily transferring their holdings into long-term storage, reducing the circulating supply on exchanges. Historically, such supply contraction often precedes bullish rallies, as limited availability can drive prices higher when…
Filed under: News - @ June 13, 2025 6:25 am