FET Surges 7.65%, Analysts Eye $3 and $5 Targets
### Key Takeaways
– **FET**, the cryptocurrency of the Artificial Superintelligence Alliance, is showing strong bullish tendencies.
– The price recently increased by 7.65% to **$1.88 USD**, accompanied by a 21.28% rise in trading volume.
– Analysts see short-term price targets at **$3 USD** and **$5 USD**, with a long-term potential to surpass the **$10 USD** mark.
– Large investors, known as **whales**, are significantly driving market dynamics.
– 82% of current FET holders are in profit, further supporting the bullish sentiment.
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### **FET: An Overview of Current Market Trends**
The cryptocurrency FET has gained significant attention in recent days. With a price increase of 7.65% and a trading volume of $708.66 million USD, a clear upward trend is emerging. This development is further supported by a rising market capitalization of $4.58 billion USD.
According to analysts, this could mark the beginning of a longer-term rally. The current price movement follows an **ascending triangle pattern**—a chart formation that often signals further price gains.
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### **Short-Term Targets: $3 USD and $5 USD**
Technical analysis suggests that FET is targeting two key resistance levels at **$3 USD** and **$5 USD**. These levels could be reached in the short term, although profit-taking is likely to occur along the way.
In the long term, a price target of **$10 USD** is being discussed, which would represent a significant increase from the current price. Analysts view this target as realistic if the bullish momentum continues.
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### **Whales: The Driving Force Behind FET**
The role of large investors, also known as **whales**, cannot be underestimated in the current price movement. Data from IntoTheBlock indicates that there were **150 large transactions** in the past 24 hours. The average transaction value stands at $29,168.51 USD.
This behavior suggests that whales are actively building positions and dominating market activity. As long as this group remains optimistic, the price is likely to continue its upward trajectory.
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### **Smaller Investors Following Suit**
It’s not just whales—smaller investors are also showing optimism. According to data from IntoTheBlock, **82% of FET holders are currently in profit**, while only 14% are experiencing losses. This distribution boosts confidence in the cryptocurrency and reduces the likelihood of widespread selling.
If there are short-term price pullbacks, these could be seen as buying opportunities, further supporting the upward trend.
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### **Our Assessment**
FET is showing promising developments, supported by both technical indicators and market participants. The strong involvement of whales and the positive sentiment among holders point to a continuation of the rally.
In the short term, the targets of **$3 USD** and **$5 USD** are within reach, while a long-term rise to **$10 USD** is possible. However, the cryptocurrency market remains volatile, and investors should be prepared for potential pullbacks.
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