CandleFocus $174 Million FET Accumulation Pushes Price Toward Resistance
2024-11-29
Author: Content Editor
The Artificial Superintelligence Alliance (FET) has experienced a 31% increase in value over the past week, driven by increased accumulation by large investors, known as whales. This surge in whale accumulation is due to FET's undervalued status, as indicated by its negative market value to realized value (MVRV) ratio. Whale accumulation is a sign of confidence in the asset's future value and often leads to increased retail interest and buying pressure. FET is currently trading within a horizontal channel, with resistance at $1.72 and support at $1.09. Breaking above this resistance level could propel FET's price to $2.09.
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