FET is proving itself to be the dominant force in the AI crypto space, outperforming its competitors in both market cap and trading volume. With 75% of addresses in profit and a recent golden cross signal indicating strong bullish momentum, FET could be on the cusp of a major rally.
As it approaches key resistance levels, the possibility of new all-time highs becomes increasingly possible.
FET outperforms its competitors in the field of artificial intelligence
FET positions itself as the leader in the AI cryptocurrency sector, with several factors driving its dominance. Currently, FET has the largest market cap among AI-related coins, at $4.22 billion.
While Bittensor follows closely behind with a market cap of $4.19 billion, FET’s lead becomes even more pronounced when compared to the rest of the pack. Combined, Render, Worldcoin, and Akash Network don’t even come close to FET’s market cap.
In 2024, FET recorded a staggering $49.92 billion in trading volume, more than 4.5 times more than its closest competitor, Bittensor. This difference in volume is significant because it indicates the level of market interest and liquidity flowing through FET.
Top 5 AI Coins.
Furthermore, FET’s price has risen an impressive 126.78% year-to-date (YTD), outperforming not only Bittensor, which has seen a strong but smaller rise of 102.56%. Higher volume often reflects stronger demand and wider participation, all of which favor FET’s price.
It is clear that investors and traders are flocking to FET, which could create a positive feedback loop as its liquidity, visibility, and market importance continue to grow. This could also establish FET as the leading AI coin in the market, making it even more dominant.
Profitable FET Addresses Could Spark New Price Surge
Currently, about 75.25% of FET addresses are in profit, meaning that about 85,010 addresses are seeing gains at the current price of $1.70. At the same time, about 21.44%, or 24,220 addresses, are in losses, and a small percentage, 3.31%, or 3,740 addresses, are at breakeven.
This distribution indicates that the majority of FET holders are confident in the future of the asset, having already seen positive returns on their positions. When a large percentage of holders are in profit, it usually indicates strong market sentiment and the potential for further upward momentum as more investors are encouraged to enter the market.
Historically, a similar ratio of profitable addresses during a FET bull run has led to explosive price increases, with FET rising by more than 500% in just one month. This past performance suggests that when many holders are already profitable, it creates favorable conditions for rapid price appreciation, especially if demand continues to grow.
With the current ratio of profitable addresses, FET price may be preparing for another major rally, bringing it comparable to previous highs in its price history.
FET Price Prediction: Will It Hit a New High Soon?
FET recently formed a golden cross, a bullish technical pattern where the short-term exponential moving average (EMA) crosses above the long-term EMA. This pattern is typically seen as a sign of building bullish momentum, usually followed by further price appreciation. In the case of FET, the various EMA lines on the chart are showing a bullish alignment, with the short-term EMAs crossing above the long-term ones.
EMAs are used to smooth price data and identify trends more clearly. Unlike simple moving averages, EMAs give more weight to recent price movements, making them more responsive. Traders typically track multiple EMAs, such as the 20-, 50-, 100-, and 200-day lines, to assess the strength and direction of a trend. In the case of FET, these EMAs show a clear upward trajectory, reinforcing the bullish outlook.
EMA lines for FET, support and resistance.
If this uptrend continues, FET could test the key resistance levels at $1.86 and $2.28. Breaking these levels could reinforce the bullish case, which could lead to further resistance points at $2.70 and $3.48. Breaking these levels could push FET towards a new record high, indicating a strong bullish move.
However, if the uptrend weakens and FET price reverses, the support levels at $1.24 and $1.00 could become critical. If the bearish sentiment persists, the price could drop further, potentially reaching $0.80. These key levels will determine whether FET can maintain its upward momentum or if a deeper correction is on the horizon.
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