FET (Artificial Superintelligence Alliance) is experiencing a bullish trend despite a recent 11% drop, with its price currently at $1.74. The market structure shows strong buying pressure, and if the uptrend continues, FET could potentially reach $3.5 before 2025. However, over $1.2 billion in leveraged positions are at risk of liquidation if the price fluctuates around $2. Key support and resistance levels are at $1.8 and $2.1, respectively, indicating potential volatility. Increased network activity and new user adoption are contributing to the bullish outlook.
Crypto analyst Rekt Capital suggests Dogecoin is poised for a bullish breakout as it trades within an ascending triangle pattern, needing a daily close above $0.43 to confirm. The analyst also notes Polkadot's potential for further rallies if it can turn the $8.60 resistance into support, and highlights the need for FET to convert its $1.77 resistance into support to sustain its upward momentum. The broader memecoin market is regaining bullish momentum, with altcoins breaking old resistances.
FET, the cryptocurrency associated with the Artificial Superintelligence Alliance, is experiencing a bullish trend following the announcement of a new Earn-and-Burn mechanism set to launch in December, which will burn up to 100 million tokens. This has already led to a 9.19% price increase, with FET trading at $1.62. The token has broken out of a descending channel and is testing a key resistance level at $1.67. If it surpasses this, a price target of $2.56 is possible. On-chain metrics and rising open interest support a continued bullish outlook, suggesting further price gains.
FET, part of the Artificial Superintelligence Alliance, has been on a bullish trend but faces challenges as it approaches resistance levels within a symmetrical triangle pattern. Analyst Crypto Leo notes that breaking these levels is crucial for FET to continue its rally, potentially reaching $3.50. However, significant sell-offs and liquidation of long positions are creating downward pressure, delaying the rally. Despite this, a 10.20% increase in Open Interest suggests a lingering bullish sentiment, though FET's breakout remains uncertain.
