FET whale activity surges, trading volumes drop

While FET trading activity fell by 10%, whale (large holder) activity increased dramatically, with large transactions surging by 262%. According to IntoTheBlock, whales currently control 64% of FET assets, which could signal the potential for price gains.

Despite lower overall trading volume, whales are still actively pushing prices higher, preparing to pave the way for a potential upside breakout. FET is currently in a symmetrical triangle pattern from late March, having recently tested resistance at $1.42 and retraced 12%. With whale activity increasing, this pullback may not last long.

The dominance of whales allows them to significantly influence the price movement of FETs, and a break above the resistance of the triangle is expected to lead to further price gains in the coming days. Market focus is on possible breakthroughs and their implications.

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