The Artificial Superintelligence Alliance token, Fetch.AI (FET), had major price decreases last week by 28.34% and reached a 48.81% drop during the last month. The market uncertainty from AI slowdown makes investors nervous and predicts FET’s next price drop.
Trading history shows that FET stands ready for a price increase during the next few days. Recent higher buy volumes challenge our understanding of what FET might achieve in the next trading period.
FET Price Surges 31% as Buyers Drive Market Recovery
An influx of new investors has put more FET tokens in their private wallets despite the market crash the previous week. The recent Coinglass withdrawal data shows that FET holders transferred $6.13 million from exchanges to private wallets during the past two days.
Big investors strengthen their faith in FET by buying more at current reduced rates. Buyer push has driven FET’s value up by 31.25% in a day to reach $0.77. Traders placed a strong bid that pushed the market volume 75% higher to $706 million with this trading activity showing a strong bull market attitude.
The base market recovery appears stronger than the derivatives sector data suggests. The Funding Rate stands at 0.0127% which proves that investors with long positions in FET willingly pay extra fees since they anticipate future price increases.
Open Interest Rises 7.64% as Investors Show Renewed Confidence
Open Interest showcases that investors are putting more funding into OI at 7.64% as its level rose to $76.7 million during the past 24 hours. Investors are joining the market more frequently and pricing predicts further upward movement.
The gradual decrease in OI chart values suggests traders may change their positions despite temporary price increases. FET token trades near $0.780 where it stands as its most important stopping point for market movement. Bullish market force at $0.780 can boost FET towards a new resistance goal at $2.70.
According to market fractality analysis another downside movement is possible. FET will probably continue its downward path if buyers fail to defend the $0.780 support zone just as they lost $1.104 protection before.
FET has experienced a strong price recovery, yet its destination remains unclear. The increasing market buying strength and rising Funding Rate point towards future growth, yet investors should watch the indicator patterns and market conditions carefully.
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