- FET, that capricious creature, has taken a nosedive of over 20% in the past week, flirting with a critical demand zone around the tantalizing $1 mark.
- Ah, the altcoin MVRV ratio, that fickle friend, whispers of undervaluation, while a surge in active addresses might just be the siren call of potential accumulation.
In the grand theater of cryptocurrency, our protagonist, the Artificial Superintelligence Alliance [FET], has been performing a rather tragic play, plummeting 20% in the last seven days. This dramatic descent followed a retest of a key pennant resistance level on the daily chart, igniting a veritable bonfire of bearish sentiment.
As the cryptocurrency markets wallow in their existential crises, FET’s erratic pirouettes raise a cacophony of questions: will it rebound like a phoenix or sink deeper into the abyss?
What is the ripple effect of DeepSeek AI on FET?
The ripple effect of DeepSeek AI, that enigmatic force, has been a significant contributor to the recent market malaise, casting a long shadow over both crypto and stock markets.
As DeepSeek AI ascends, a palpable fear of competition between the traditional and decentralized AI networks looms large. This bearish trend has been particularly unkind to projects like FET, dragging them down the slippery slope of despair.
Is FET undervalued?
Ah, Santiment’s on-chain metrics, those precious gems of insight, reveal that FET’s MVRV ratio languishes at a dismal -6.744%, hinting at potential undervaluation. Historically, when MVRV ratios dip below 1, they often precede a price rebound—like a catapult waiting to spring.
This suggests that selling pressure for FET is waning as it approaches the coveted demand zone at $1, perhaps paving the way for an accumulation phase. Fingers crossed! 🤞
Moreover, FET’s daily on-chain transaction volume in profit has plummeted to a mere 976K, the lowest in recent memory. This could imply that traders are clinging to their coins like a lifebuoy in a storm, refusing to sell at unrealized losses—a classic sign of bearish market conditions. 🥴
On the flip side, a spike in active addresses might just be the glimmer of hope we need, hinting at renewed interest and the tantalizing prospect of accumulation.
A rebound or breakdown at the $1 critical demand zone?
FET is currently testing the waters at the key demand zone around $1, a pivotal moment that could dictate its next price movement. With the bearish sentiment fueled by DeepSeek AI’s influence, the token might be pushed further into the depths of despair.
Read Artificial Superintelligence Alliance’s [FET] Price Prediction 2025–2026—if you dare!
However, the decentralized AI narrative of the project might just be the knight in shining armor to counter this bearish trend. The burgeoning number of active addresses bolsters the case for possible accumulation and may herald a price reversal. 🦸♂️
If FET can cling to the $1 level, it might just embark on a recovery phase. But beware! Failure to defend this zone could lead to further dips, especially if the broader market conditions remain as gloomy as a rainy day in November.
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2025-01-29 12:10