$FET Discussion is heating up, but buyers are stepping away.
Yesterday at 12:44 Beijing time, CoinGecko officially listed it as the top trending topic. The price climbed further afterward, but the 5 p.m. candle touched 0.2723 and then reversed. More people are still talking about it on X today, but the last 10 completed 1-hour candles on Binance Spot averaged about 640,000 U in volume each. During the surge, those 25 candles averaged 2.25 million U each. Less than a third.
A decline on shrinking volume doesn’t look like someone is dumping; it looks more like the buyers have run out. Anyone who’s just arrived because it’s trending is buying the coins held by those who bought during the surge.
I think it’ll go back to find support next, rather than surge again right away. The low of the candle at midnight today, 0.2430, is the only floor so far in this low-volume pullback. If that breaks, it’ll most likely revisit 0.2253, where the rally began on the afternoon of the 4th.
If it gets back above 0.26 and hourly volume rises above 2 million U, then I’m wrong: the buzz has brought in new buyers, not just onlookers.
#FET #AI
Yesterday at 12:44 Beijing time, CoinGecko officially listed it as the top trending topic. The price climbed further afterward, but the 5 p.m. candle touched 0.2723 and then reversed. More people are still talking about it on X today, but the last 10 completed 1-hour candles on Binance Spot averaged about 640,000 U in volume each. During the surge, those 25 candles averaged 2.25 million U each. Less than a third.
A decline on shrinking volume doesn’t look like someone is dumping; it looks more like the buyers have run out. Anyone who’s just arrived because it’s trending is buying the coins held by those who bought during the surge.
I think it’ll go back to find support next, rather than surge again right away. The low of the candle at midnight today, 0.2430, is the only floor so far in this low-volume pullback. If that breaks, it’ll most likely revisit 0.2253, where the rally began on the afternoon of the 4th.
If it gets back above 0.26 and hourly volume rises above 2 million U, then I’m wrong: the buzz has brought in new buyers, not just onlookers.
#FET #AI
