Why does FET have great upward potential?
The Artificial Super Intelligence Alliance FET shows a significant upward trend, driven by both technical analysis and market sentiment. Especially against the backdrop of a surge in large trading volumes, the activity of whales has significantly increased, adding bullish expectations for the future development of FET.
With pro-cryptocurrency politicians being re-elected, the overall sentiment in the cryptocurrency market has warmed up. Under this context, FET has achieved a rise of over 25% in the past two days. This increase not only breaks through the previous downward channel but also indicates that FET is about to enter a new upward cycle.
From a technical analysis perspective, FET has shown a clear bullish trend after the breakout. The daily candle closing price of FET has already surpassed the 200 Exponential Moving Average (EMA), further confirming its upward trend. Based on the current market sentiment, FET is expected to continue rising in the coming days, possibly reaching the level of $1.80.
In addition to technical analysis, FET's on-chain metrics also show positive signals. In the past 24 hours, FET's large trading volume surged by 56%, indicating strong interest from whales and investors. At the same time, FET's open contracts have also increased by 7.9%, suggesting that traders have strong confidence in FET and may be establishing new positions based on market sentiment.
FET has demonstrated significant upward potential in the current market environment. Whether from the perspective of technical analysis or market sentiment, FET presents positive signals. However, caution is still needed, closely monitoring FET's trading price and volume dynamics to make informed investment decisions.
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