The cryptocurrency market has gained momentum recently with many altcoins such as Fetch.ai (FET) rising. This upward trend is perceived as signs of revival of the broader market and is triggering a new wave of excitement in the cryptocurrency community. This significant increase in Fetch.ai’s price is attracting the attention of investors focused on the cryptocurrency ecosystem and overall market dynamics.
The price of Fetch.ai recently hit an all-time high, rising to a record high of $2.28. This rise reflects the rapid increase trend that has continued over the last three weeks and contributes to Fetch.ai becoming a significant presence in the market. During this time, FET particularly strongly established support levels between $1.05 and $1.70, which gave investors confidence, indicating that the uptrend was based on solid foundations.
Especially recently, investors have been making continuous profits since February 19, and this creates a positive atmosphere in the general market.
According to the In/Out of the Money Around Price (IOMAP) indicator developed by IntoTheBlock, 100% of the entire FET supply in circulation generates profits for its investors.
Although this indicator cannot be used to determine exact resistance or support points, information about the concentration of funds around a particular price can give a clue about the potential of the asset’s movement rate. The last group to make a profit was a group that had 18,350 FETs worth $36,700 purchased at an average price of $1.82.
This shows that despite the continuous rise and gains detected, investors are still accumulating FET. Similar trend is observed in the decreasing balance of FET in the stock exchanges. This is a signal of potential buying interest in the crypto asset, which is often confirmed by investors’ actions and could enable the rally to continue.
This noticeable increase in Fetch.ai’s price represents a remarkable situation for investors looking for new opportunities in the cryptocurrency world. This is also supported by belief in Fetch.ai’s technological potential and promising projects. Fetch.ai, as a platform based on innovative technologies such as machine learning and artificial intelligence, is a project that is expected to play a critical role in the future.
FET Price Prediction: Whales’ Strategy
Additionally, FET whale addresses have been in the process of shedding assets since the FET price broke its all-time high in mid-February. Since then, these major wallets have sold approximately 8.45 million FETs, worth approximately $17 million.
These addresses, which hold between 100,000 and 1 million FETs, seem to have the exact opposite mentality of smaller-scale investors. However, it is worth noting that it is quite normal for investors to realize profits during a major rise.
You can follow the current price movement here.
