- FET crypto outperformed BTC, ETH, and other key assets with a 7.5% upside momentum in the past 24 hours.
- 80.23% of top traders on Binance built long positions, while 19.77% built short positions.
The Artificial Superintelligence Alliance (FET) is causing a stir in the world of cryptocurrencies due to the development of favorable market trends, resulting in an upward price movement.
At the moment, it seems that the general feeling about the market is somewhat mixed. Bitcoin [BTC] is nearly touching the $100,000 level once more and is showing a strong increase of 1.36%. However, other digital currencies seem to be facing difficulties.
FET crypto outperforms BTC, ETH
In the midst of market turbulence, I’ve observed a 7.5% surge in FET over the last day. Interestingly, this uptrend has sparked a substantial 92.5% rise in trading volume during the same timeframe.
Based on analysis by the blockchain data company Coinglass, FET has shown a positive outlook as both long-term investors and traders have increased their long positions.
Market sentiment drive FET’s surge
In the last day, there’s been a withdrawal of approximately $1 million in FET tokens across various trading platforms, as shown by recent inflow and outflow data.
As a researcher studying cryptocurrencies, I find that an ‘outflow’ denotes the transfer of digital assets from exchange platforms into personal wallets. Such movements are typically associated with a positive outlook, often indicating increased demand for the asset. This shift can generate upward price trends and boost buying pressure on the crypto in question.
Beyond the current buildup among long-term investors, there’s been a substantial increase in trader activity towards this altcoin, as evidenced by their sizable long positions.
At the current moment, Coinglass’s Binance Long/Short Ratio stands at 4.06, indicating a robust positive outlook among traders in the market, as they predominantly favor long positions over short ones.
The data shows that over the last 24 hours, a significant majority (80.23%) of active traders at Binance have chosen to go long, whereas fewer than one-fifth (19.77%) have opted for short positions.
In the past 24 hours, approximately 80% of leading traders on Binance made bullish moves (long positions), while around 20% took bearish stances (short positions).
Technical analysis and key levels
Based on AMBCrypto’s technical assessment, FET has just burst free from a narrow holding pattern and is now heading upwards.
The value being examined has once more touched the 200 Exponential Moving Average (EMA), indicating a likely successful breach and the possibility of increased positive movement ahead.
Read Artificial Superintelligence Alliance’s [FET] Price Prediction 2025–2026
According to the latest price trends and technical assessment, it appears highly likely that the value of FET might surge by approximately 30%, potentially reaching around $2.05 within a short period.
Moreover, the RSI of FET stood at 56 during the current reporting period, which is lower than the overbought threshold, suggesting that there could be more upward movement in the upcoming days.
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2025-01-07 04:39