• FET surged 18% to $1.2572 after breaking out of a symmetrical triangle.

  • Large transactions surged by 135%, indicating increasing whale activity on the network.

The Alliance of Artificial Intelligence Price Prediction [FET] has seen an incredible rally recently. After breaking out of the symmetrical triangle resistance at 1.2572, FET surged by 18%.

It also managed to break above the critical resistance level of $1.492, highlighting the strong bullish sentiment in the market.

At press time, the coin is hovering near another key resistance level of $1.4954. This movement has market participants wondering if the coin has enough momentum to push higher.

Increased whale activity

Supporting the FET price surge are encouraging on-chain metrics. Large transactions on the FET network grew by 135%, indicating increased whale activity.

A spike in high-value transactions does suggest that some big players are accumulating or circulating tokens, which could lead to a price increase.

In addition to the aforementioned increase in whale activity, the number of active addresses also spiked by 24%. This indicates an increase in interest and engagement on the network.

While this is a good indication of FET’s market strength, it is also accompanied by an increase in whale activity and network participation.

FET Testing Critical Resistance Levels

While this price movement was accompanied by an increase in trading activity, FET was testing the critical resistance level of $1.4954 at press time.

A breakout above this level could be key to keeping the coin’s uptrend intact.

The increase in whale activity and the growing number of active addresses suggest that FET may have the momentum to break through this resistance level, thus signaling further gains in its price.

Read the AI ​​Superintelligence Alliance’s [FET] Price Forecast for 2024-2025

If the asset manages to close above $1.4954, it could pave the way for a continued rise to new all-time highs driven by strong on-chain metrics.

However, failure to break higher might result in a consolidation phase.




It should be emphasized that this article is for reference only and does not constitute investment advice.