Artificial Superintelligigence Alliance (FET) recently experienced a sharp price decrease of 34 %. This decrease points to one of the greatest victories of artificial intelligence Coin. This collapse confirmed a three -month model that predicts such a correction. While investors experience historical losses, whales seem to benefit from low prices. According to crypto analyst Aaryamann Shrivastava, this points to potential confidence in a future recovery.
The collapse of FET frightened individual investors!
The losses for feties have reached their highest levels in Altcoin history. This is the result of many investors selling their assets at the beginning of this week to prevent further damage. As a result, the general market sensitivity tends to decrease. Many individual investors are hesitant to make moves in a way that reflects the pessimistic appearance in the market.
This wave of sales led to an increase in cautious in the investor base, and the traders refrained from taking significant steps against the fluctuation in the market. The fear of additional loss is currently suppressing the desire to accumulate, causing many people to remain on the edge.
FET losses. Source: centimeterArtificial Intelligence Coin fell while whales began to save!
Despite widespread losses, whale activity has risen significantly. Addresses holding 1 million to 100 million feties in hand added approximately 92 million feties worth 70.8 million dollars last week. This accumulation at low -price levels shows that the whales position themselves for potential recovery and trust the long -term potential of FET.
This whale accumulation is an important sign of optimism despite the current market decline. Whales are generally seen as more experienced market participants and their ability to make purchases during a significant price decrease periods may show their beliefs for a final recovery.
FET WHALE Holdings. Source: centimeterFET PRICE EXPLANATION: Artificial Intelligence Coin jumped with support, now…
The price of the feties saw $ 0.77 by exceeding the basic support level of $ 1.19. This decrease confirms the validity of the ‘head and shoulder’ formation, which envisages a decrease of 43.6 %to $ 0.73. As expected, the market seems to be experiencing a sharp correction that leads to this important retreat. Currently, the feties are on the support of $ 0.76. This shows that it may have reached the bottom of the market. If this support is sufficient, Altcoin will have the chance to compensate for recent losses. However, for a successful recovery, the FET must convert $ 1.04 into support and point to the end of the correction phase.
FET Price Analysis. Source: TradingViewOn the other hand, if the feties loses $ 0.76 dollars, they may fall further. The next potential target is 0.73 dollars. If this level falls below this level, the price is possible to approach $ 0.64. This will invalidate the appearance of rise and lead to more losses.
The opinions and estimates in the article belong to the analyst and are not definitely investment advice. Kriptokoin.comWe recommend that you do your own research before investing.
