Artificial Intelligence Alliance (FET) Price Analysis: Optimistic Signs for a Potential Recovery
Investor Sentiment: Awaiting Bullish Triggers
Despite the current bearish trend, there are optimistic signs indicating a potential recovery for FET. Active addresses in terms of profitability show that most investors are currently facing losses. However, less than 4% of investors in the online trading space are profitable, which could indicate a shift in sentiment towards a bullish trend. This is further supported by the market to realized value (MVRV) ratio, which suggests buying pressure and a possible accumulation phase for FET.
Accumulation Phase and Potential Price Surge
Historically, when FET’s MVRV is between -10% and -25%, it has signaled the beginning of a rally. This accumulation phase could benefit not only FET but also other altcoins, as increased demand may lead to a surge in prices. The current scenario presents an opportunity for investors to consider accumulating FET before a potential price rally.
FET Price Prediction: Breaking Through Resistance
FET price has been consolidating below the $0.90 resistance level, with a current trading price of $0.84. The recent rebound from the $0.76 support level indicates a strong support zone for the altcoin. If FET manages to break through the resistance level, a rally above $1.00 could be on the horizon, potentially leading to a return to the $1.40 support level. However, a failed breakout could prolong the sideways momentum, requiring investors to be patient and wait for clearer signals.
