FET Price Drama: Is AI Crypto About to Go Down in Flames? 🔥

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  • So, FET is trying to make a comeback, huh? Price and trading volume are up—who knew?
  • But wait, the market’s got mixed feelings about where FET is headed. It’s like a bad relationship!

Look, the Artificial Superintelligence Alliance Price Prediction says FET’s been on a downward spiral lately—28.34% in the last week and a whopping 48.81% over the month. Ouch! 😬

Investors are sweating bullets, thinking a price crash is just around the corner as the AI sector seems to be losing its grip. Classic!

But hold your horses! AMBCrypto reports that despite the doom and gloom, FET might just be gearing up for a price rally. I mean, who doesn’t love a good comeback story?

Buying Activity: The Plot Thickens

Despite last week’s disaster, buying activity for FET has spiked. It’s like watching a train wreck—you can’t look away!

In just 48 hours, a staggering $6.13 million worth of FET was bought and whisked away into private wallets. Talk about a shopping spree! 🛒

Thanks to this buying frenzy, FET has bounced back by 31.25% in the last 24 hours, hitting $0.77. That’s a nice little uptick, right? But wait, there’s more—$706 million in buying momentum, a 75% increase! It’s like a rollercoaster ride, folks!

But don’t get too excited just yet. AMBCrypto found that derivative traders are still feeling a bit wishy-washy about the whole thing. Mixed signals everywhere!

Mixed Sentiment: Is a Crash Still Lurking? 🤔

So, derivative traders are showing mixed feelings, even with some bullish signs. It’s like they can’t make up their minds!

The Funding Rate is sitting at a bullish 0.0127%—long traders are feeling confident and paying a premium to hold their positions. Sounds like a party, right?

Usually, a positive Funding Rate means prices are going up, especially with rising volume. But, you know, nothing’s ever that simple!

Open Interest (OI) has also seen a 7.64% bump to $76.7 million in the last 24 hours. That’s a sign of shifting sentiment, but don’t pop the champagne just yet!

OI is like the lifeblood of derivative traders, showing whether they’re opening or closing contracts. In this case, it suggests some liquidity is flowing into FET. But wait—there’s a catch!

Looking closer at the OI chart, there’s a downward trend despite the recent gains. If that keeps up, FET might just take a nosedive. Buckle up!

Where to Next for FET? 🤷‍♂️

On the charts, FET is at a critical support level of $0.780. It’s like standing on the edge of a cliff—will it soar or plummet?

Ideally, this support level should kickstart a price surge, pushing FET toward the $2.70 target. But let’s be real—this is crypto, anything can happen!

However, market fractality suggests FET might just lose that $0.780 support, just like it did with the $1.104 level. If bullish momentum fades and the bears come out to play, we could be in for a wild ride!

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2025-02-04 15:07