Artificial Superintelligence Alliance (FET) experienced a significant drop in value in last week. When writing these lines, the AI agent token has been negotiated at $ 1.08, its lowest since September 2024.
This drop in prices occurs in the middle of a drop in whale activity, with large holders unloading substantial quantities of FET chips in recent days.
FET whales sell assets
According to Santiment, the whales holding between 10,000,000 and 100,000,000 FET have discharged more than $ 25 million in chips in less than seven days, reducing the value of the FET by 7% during this period.
When the whales increase sales, they unload large amounts of token on the market, which can lead to an excess offer and reduce the price. This increase in sales pressure generally submerges purchase demand, resulting in a drop in the value of the token.
The market often reacts to these sales with increased uncertainty, leading to new price reductions if the trend continues.
In addition, FET’s negative weighted feeling confirms the lowering bias towards him. At the time of the press, it is -0.41, reflecting pessimism among market players.
The weighted feeling of an asset measures its positive or negative overall bias. He considers both the volume of social media mentions and the feeling expressed in these mentions.
When it is negative like this, it is a lower signal. This means that investors are becoming more and more skeptical about the short -term perspectives of the token, which encourages them to exchange less and cause a drop in prices.
Fet Prix File: A higher drop to $ 0.70 by the horizon?
FET is negotiated considerably below its 20 -day exponential mobile average (EMA) on the daily graph. This key mobile average measures the average price of an asset in the last 20 days, which gives more weight at recent prices.
When the price of an asset falls below the 20 -day EMA, it signals a potential lower momentum, suggesting a new drop in prices. If the decline in the FET continues, its price could drop to $ 1.02. If this level of support does not hold, the value of the token could drop more to $ 0.70.
However, a change in market feeling and an increase in demand for FET will invalidate this downward perspective. In this scenario, the token price could rally at $ 1.29.
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In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
