CandleFocus FET Holders Reactivate Dormant Tokens as Price Nears Two-Month Low
2024-10-10
Author: Content Editor
The cryptocurrency FET has seen a 5% decline in the past week and now faces further downward pressure as previously dormant token holders reactivate and move their coins. The surge in age consumed, which tracks the movement of long-held coins, indicates that previously inactive coins are being traded. However, the lack of strong demand for FET means that these newly re-entered coins are adding to the downward pressure on the altcoin's price. FET's price is currently below key moving averages, indicating weakening demand, and readings from its MACD indicator suggest a potential price decline. If demand continues to decrease, FET's price may fall to a two-month low, but if market sentiment becomes bullish, FET's price may initiate an uptrend and rally upwards.
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