tl;dr
The FET cryptocurrency has underperformed its competitors, with its price down more than 8% over the past week. Despite being the second-largest AI coin by market cap, it has struggled to keep pace with others in the sector. This raises concerns about its ability to maintain its position. The number...
FET, the second-largest AI cryptocurrency by market cap, has underperformed its competitors, with its price down by over 8% in the past week. This raises concerns about its ability to maintain its position in the market.
The decrease in FET whale addresses, currently standing at 149 from 153, may indicate lingering uncertainty, affecting price stability and future performance.
The FET price chart shows potential bearish pressure, with a possible 16% correction and resistance levels at $1.45 and $1.53.
FET lags behind its competitors in AI cryptocurrency performance, with RNDR showing a 39.14% increase and WLD with 17.5% gains. If RNDR rises by 15% more and FET remains stable, their market caps could equalize, potentially leading to a shift in rankings.
The reduced whale activity may suggest lingering uncertainty or hesitation, impacting FET’s price stability and future performance in the short term.
If a "death cross" occurs, FET could test support at $1.18, with a potential 16% correction. Conversely, breaking resistances at $1.45 and $1.53 could lead to a 35% price increase, with the price rising to $1.64.