FET gains outperform BTC! Is the situation changing? How high can it go?

Artificial Intelligence [FET] is poised for a massive price surge, driven by its bullish on-chain metrics and potential breakout.
Despite the current bearish market sentiment, FET has surged by more than 28% in the past four days, outperforming major cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH], and Solana [SOL].
Will FET continue to rise?At press time, the outlook for FET is bullish as it is trading above the 200 exponential moving average (EMA) on the daily timeframe.
Investors and traders often use this indicator to determine whether an asset is in an uptrend or a downtrend.
Apart from this, FET also faces strong resistance near $1.5.
FET has faced selling pressure every time it has reached this level since July 2024. However, the sentiment surrounding FET seems to be different at the moment as investor interest appears to be increasing.
Therefore, based on historical price momentum, if FET has a daily close above $1.5, there is a high probability of a 26% surge to $1.95 or even higher.
On-chain dataFET’s bullish outlook is further supported by on-chain indicators. At press time, Coinglass’s FET long/short ratio is 1.03, indicating bullish market sentiment. A value above 1 means more traders are betting on FET’s price to rise.
Meanwhile, its futures open interest surged 25% in the past 24 hours and has been increasing continuously since September 6.
The combination of rising futures open interest and a long-short ratio above 1 provides a potential buying opportunity. Traders and investors often use this setup to enter long or short positions.
FET breaks through the $1.40 markCurrently, OpenAI is raising $6.5 billion from investors to consolidate its position as one of the world's most valuable startups. The report also pointed out that if this round of financing is successfully completed, the company behind the popular artificial intelligence product ChatGPT will be valued at $150 billion.
The round will be led by Thrive Capital, with participation from Microsoft, the company’s largest investor, and Apple and Nvidia also in talks to invest.
Following this development, AI tokens including FET, NEAR, and Render (RNDR) have all seen an increase in their prices. For example, the price of FET was $1.28 on September 11. Today, the altcoin is trading at $1.37.
On September 7, the price of FET briefly dropped below $1. However, bulls ensured that the price did not drop below $1.30 after Apple launched the AI ​​features of the new iPhone 16. On the daily chart, the Bull-Bear Power (BBP) shows that bulls are still in control.
The negative reading of BBP indicates strong selling pressure and bearishness is dominant. However, as the indicator has a clear green bar above the signal line, the price of FET may continue to rise with a potential target close to $1.85. If bears dominate, AI Token may face a price decline and FET may fall to $1.01.
In simple termsFET’s bullish outlook is further supported by on-chain indicators, and if FET sees a daily close above $1.5, it could surge 26% to $1.95 or even higher. On-chain indicators support a bullish outlook in the short term, with bulls in the driver’s seat.