Artificial Superintelligence Alliance (FET) Price Prediction: With the restoration of Whale confidence, AI Token is about to break through the fall channel.
According to Gate news, the Artificial Superintelligence Alliance (FET) rose slightly on Tuesday, continuing its 17% rise from the beginning of the week. The price increase of FET has outpaced the recovery speed of the Crypto Assets market, which may be supported by enhanced confidence among large investors, commonly known as "Whales," who have purchased 18 million FET Tokens over the past four weeks.
The technical outlook for FET is consistent with the market confidence boosted by the ceasefire between Israel and Iran after 12 days of war, indicating a potential breakout from the downward channel.
FET Whale becomes confident
Santiment data shows that the total holdings of investors holding 10 million to 100 million FET tokens have increased from a year-to-date low of 663 million tokens on May 27 to 681 million tokens. The acquisition of approximately 18 million FET tokens indicates an increase in confidence among large investors.
In contrast, the total holdings of investors holding more than 100 million FET tokens have fallen to 1.16 billion from 1.15 billion on May 27. Overall, large investors saw a net inflow of 8 million FET tokens, indicating an increase in overall confidence.
(Source: Santiment)
FET is close to breaking through the channel, targeting the 200-day EMA
FXStreet analyst Vishal Dixit said FET prices edged up 3% as of press time on Tuesday, extending Monday's 17% gain. FET's rally targets are sideways 50-day and 100-day exponential moving averages (EMAs) with a price target of $0.72.
The dynamic resistance is consistent with the upper trend line formed from the shorter highs of May 23, May 29 and June 11. On the other hand, the parallel support trend line formed at the lows of May 31 and June 22 completes the descending channel.
If the daily closing price might break through the 100-day moving average and approach the upper trend line, it will mark a channel breakout. In this case, FET may continue the bullish breakout momentum, targeting the 200-day moving average of $0.85, followed by breaking the resistance level of $1.04, which is equal to the highest closing price in February.
The Moving Average Convergence/Divergence (MACD) indicator indicates that the MACD line is about to cross above the signal line. Usually, this crossover signals a trend reversal, which is consistent with the channel breakout theory.
The Relative Strength Index (RSI) points upward and reaches the midpoint level of 50, quickly rebounding from the nearly oversold boundary, indicating a strengthening bullish momentum.
If the upper trend line is not broken, it may lead to a pullback within the channel again, with the current support level at the weekly low of $0.548.
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Artificial Superintelligence Alliance (FET) Price Prediction: With the restoration of Whale confidence, AI Token is about to break through the fall channel.
According to Gate news, the Artificial Superintelligence Alliance (FET) rose slightly on Tuesday, continuing its 17% rise from the beginning of the week. The price increase of FET has outpaced the recovery speed of the Crypto Assets market, which may be supported by enhanced confidence among large investors, commonly known as "Whales," who have purchased 18 million FET Tokens over the past four weeks.
The technical outlook for FET is consistent with the market confidence boosted by the ceasefire between Israel and Iran after 12 days of war, indicating a potential breakout from the downward channel.
FET Whale becomes confident
Santiment data shows that the total holdings of investors holding 10 million to 100 million FET tokens have increased from a year-to-date low of 663 million tokens on May 27 to 681 million tokens. The acquisition of approximately 18 million FET tokens indicates an increase in confidence among large investors.
In contrast, the total holdings of investors holding more than 100 million FET tokens have fallen to 1.16 billion from 1.15 billion on May 27. Overall, large investors saw a net inflow of 8 million FET tokens, indicating an increase in overall confidence.
(Source: Santiment)
FET is close to breaking through the channel, targeting the 200-day EMA
FXStreet analyst Vishal Dixit said FET prices edged up 3% as of press time on Tuesday, extending Monday's 17% gain. FET's rally targets are sideways 50-day and 100-day exponential moving averages (EMAs) with a price target of $0.72.
The dynamic resistance is consistent with the upper trend line formed from the shorter highs of May 23, May 29 and June 11. On the other hand, the parallel support trend line formed at the lows of May 31 and June 22 completes the descending channel.
If the daily closing price might break through the 100-day moving average and approach the upper trend line, it will mark a channel breakout. In this case, FET may continue the bullish breakout momentum, targeting the 200-day moving average of $0.85, followed by breaking the resistance level of $1.04, which is equal to the highest closing price in February.
The Moving Average Convergence/Divergence (MACD) indicator indicates that the MACD line is about to cross above the signal line. Usually, this crossover signals a trend reversal, which is consistent with the channel breakout theory.
The Relative Strength Index (RSI) points upward and reaches the midpoint level of 50, quickly rebounding from the nearly oversold boundary, indicating a strengthening bullish momentum.
If the upper trend line is not broken, it may lead to a pullback within the channel again, with the current support level at the weekly low of $0.548.
(Source: Trading View)