Fetch.AI (FET) has experienced serious decreases in recent weeks. The slowdown and uncertainties in the AI sector made investors uneasy. FET lost 48.81 %in the last month, and last week, 28.34 %fell into a difficult process. However, the price increased by 31 %in the last 24 hours. So, what’s behind this rise?
Do investors rely on FET?
In recent days, big investors have started to receive feties. CoNSS data shows that investors draw $ 6.13 million feties from exchanges to special wallets. This movement indicates that investors expect a long -term rise.
This strong wave of purchase increased the transaction volume by 75 %to 706 million dollars. Market analysts think that this purchase wave can move the price even further. However, the uncertainty in the market still continues.
Open positions are increasing
Open interest (OI) in the fet market increased by 7.64 %in the last 24 hours. Currently, the OI level has reached $ 76.7 million. This shows that investors’ interest in FET is revived again.
However, the gradual decrease in the OI graph reveals that some investors realize profit. The feties are currently trading at $ 0.780. If this support level is maintained, the price is expected to rise up to $ 2.70.
Critical levels for feties
Technical analysis reveals two possible scenarios for feties. If the level of $ 0.780 is maintained, the upward movement of the price may continue. However, the loss of this level indicates that the decline may continue. There was a harsh decline when the support of $ 1.104 was lost before.
The rise seems strong, but investors need to be careful.
Market experts, emphasizing that volatility is high. If the bulls take control of the market, it is possible for FET to reach new points of resistance. However, if the drop pressure continues, the price may regain.
As a result: What should investors do?
The last recovery of Fet seems to be promising. Increased purchase volume and investor interest may contribute to the upward movement of the price. But the market is still full of uncertainties.
Investors need to closely follow their support levels and market trends. If the bulls can defend $ 0.780, a new rally may start for the feties. However, if bears take control, the price may decrease again. The next days will shed light on the future of Fet.
