FET stabilizes at $1.33, breaking $1.38 could trigger a 20%-30% increase

The current price of FET is $1.33, a slight decrease of 1.19% within 24 hours. Traders are focusing on the key resistance level of $1.38; if successfully broken, the price is expected to rise to $1.60, achieving a 20%-30% increase.

On-chain activity and market signals

Surge in network activity: New address growth of 47.36%, active address growth of 12.46%, reflecting rising investor interest and ecosystem adoption.

Exchange reserve changes: Reserves increased by 0.12% to 471.4 million FET, indicating market caution, but a downward trend may suggest accumulation and drive price increases.

Technical and liquidation analysis

Technical indicators: The moving average (MA) shows potential upward trend, but the ADX is only 15.76, requiring further confirmation from trading volume and price action.

Liquidation data: Short liquidations reached $13K, higher than long liquidations of $1.56K; breaking $1.38 may trigger more short liquidations, boosting price increases.

Summary

Increased on-chain activity, positive technical signals, and liquidation potential all indicate that FET has strong bullish momentum after breaking $1.38, potentially leading to a significant price increase.