FET Falls to 4-Month Low Amid Whale Sell-Off – What’s Next?

The Super AI Alliance ($FET ) token has faced a significant price decline, hitting its lowest level since September 2024. At the time of writing, FET is trading at $1.08, reflecting mounting selling pressure from large holders.

Whale Activity Sparks Market Uncertainty

Recent on-chain data from Santiment reveals that whale wallets holding between 10 million and 100 million FET have offloaded more than $25 million worth of tokens over the past week. This wave of selling has contributed to a 7% price drop, as increased supply has outpaced market demand. When large holders liquidate significant portions of their holdings, it often triggers heightened volatility, increasing uncertainty among retail investors.

Adding to the bearish sentiment, FET’s weighted sentiment currently stands at -0.41, indicating growing pessimism within the market. Weighted sentiment considers both social media activity and investor mood, and a negative reading suggests that traders are increasingly cautious about the token’s near-term prospects. This hesitation can further suppress buying activity, leading to continued price weakness.

Key Support Levels and Potential Price Trajectory

On the technical front, FET is trading well below its 20-day Exponential Moving Average (EMA), signaling bearish momentum. This indicator tracks short-term price trends, and a sustained drop beneath it often suggests further downside potential.

Should the $1.02 support level fail to hold, FET could slide toward $0.70, marking a sharper correction. However, a shift in sentiment and renewed buying interest could negate this bearish scenario, pushing the token back toward $1.29 in the near term. Investors will closely monitor whale activity and overall market dynamics to gauge whether FET can recover or if further downside is ahead.

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