- The FET cryptocurrency has outperformed BTC, ETH and other major assets with an upward momentum of 7.5% over the past 24 hours.
- 80.23% of Binance’s top traders have established buy positions, and 19.77% have established sell positions.
The Artificial Superintelligence Alliance (FET) is making waves in the cryptocurrency space following its bullish price action and recent price gains.
Market sentiment appears to be mixed at the moment as Bitcoin (BTC) is once again approaching the $100,000 mark with an impressive 1.36% upward momentum, while other cryptocurrencies appear to be struggling.
FET Crypto Outperforms BTC, ETH
Amid this market uncertainty, FET recorded an upward momentum of 7.5% in the last 24 hours. As a result, trading volume increased significantly by 92.5% during the same period.
According to on-chain analytics firm Coinglass, FET has been bullish, with long-term holders and traders buying.
Market sentiment drives FET’s surge
Spot inflow/outflow data shows that nearly $1 million worth of FET tokens have flowed from exchanges in the last 24 hours.
In cryptocurrency, an outflow refers to the movement of assets from an exchange to a wallet and is considered a bullish signal. This can create upward momentum and increase buying pressure on the asset.
In addition to the recent accumulation of long-term holders, traders have also shown significant interest in altcoins, making notable bets on the buy side.
Coinglass’ Binance long/short ratio was 4.06 at press time, reflecting strong market sentiment among traders.
Source: Coinglass
The data shows that in the last 24 hours, 80.23% of Binance’s top traders opened buy positions, while 19.77% built sell positions.
Technical Analysis and Key Levels
According to AMBCrypto’s technical analysis, FET has recently broken out of a tight consolidation zone and started to show an upward trend.
The asset retested the 200 exponential moving average (EMA), suggesting a successful breakout and potential upward momentum.
Source: TradingView
Read Artificial Superintelligence Alliance (FET) price forecast for 2025-2026
Recent price action and technical analysis suggest that FET is likely to rise 30% and reach the $2.05 level in the near future.
Additionally, FET’s Relative Strength Index (RSI) was at 56 at press time, indicating it is below overbought territory, suggesting further upward momentum ahead.