Fetch.ai (FET) Surges 50%, Eyes Break Above $0.54
Key Takeaways
- FET (Fetch.ai) rebounded nearly 50% after dropping to USD 0.34.
- On-chain data indicates increased accumulation by experienced market participants.
- USD 0.34 now acts as a potential support zone for further price increases.
- Technical indicators suggest a possible trend reversal, though selling pressure remains.
Strong Recovery After Market Downturn
FET’s price briefly fell to USD 0.34 amid a broad market selloff. Since then, the coin has gained approximately 50%. This rapid recovery points to strong demand following the price dip. Over one million FET were accumulated on spot markets within 72 hours — a sign of so-called “smart money”, meaning institutional or experienced investors capitalizing on periods of weakness.
USD 0.34 as a Key Level
Analysts are now watching the USD 0.34 level as a structural support. If this zone holds, it could serve as a launchpad for a continued uptrend. The target in this case would be the USD 1.00 area — a resistance last reached in January before profit-taking set in.
AI Tokens on the Rise
FET is benefiting from the general upswing in the AI-based cryptocurrency sector. The market capitalization of this category rose from USD 21.33 billion to USD 24.43 billion in just one week. During this period, FET surged 47%, outperforming many larger coins. The price movement followed a prolonged consolidation phase — a typical pattern before a spike in volatility.
Technical Data: Accumulation vs. Selling Pressure
Despite the positive price performance, some metrics show the market is not fully convinced yet. The MVRV Z-Score — an indicator of an asset’s relative valuation — is at -1.50. This suggests undervaluation, typically a signal of accumulation phases.
At the same time, the Net Unrealized Profit/Loss (NUPL) remains negative. This indicates that many investors are currently holding losses. Since its January high of USD 1.60, FET has lost about 70%. This points to an ongoing capitulation phase, where many market participants are liquidating their positions.
Risks Remain
Although early signs of a bottom are emerging, current demand is not yet sufficient to fully offset the selling pressure. If the support level at USD 0.34 fails to hold, a similar drop could occur as seen previously at the USD 1.12 level.
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Our Assessment
FET is showing short-term strength, supported by accumulation and positive market sentiment in the AI sector. However, caution is advised. Technical indicators point to a fragile balance between buyers and sellers. Investors should closely monitor the USD 0.34 level. A sustained breakout above USD 0.54 could unlock further upside potential. Until then, FET remains a speculative investment with elevated risk — but also opportunities for risk-aware investors.
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