Attention, traders of $FET /USDT! 🚨 We are seeing an intriguing movement in the market. The current price of FET is $0.764, with a slight increase of +0.13%. It seems the bulls are trying to take control! 🐂
FET has been recovering from its 24-hour low of $0.721, and is now approaching the high of $0.774. If it manages to break and consolidate above this level, we could see significant bullish momentum. However, beware of manipulation! The order book shows a clear dominance of supply over demand (75.70% supply vs. 24.30% demand), which could generate downward pressure if there isn't a strong influx of buyers.
Regarding the money flow, although large inflows in the last 24 hours were 373,913.40 FET, in the last 5 days we have seen a net outflow of $-4.97M in large trades. This could be a sign that the "whales" are liquidating their positions, which deserves special attention.
The key levels to watch are the MA(7) at $0.756 and the MA(25) at $0.757, which act as important supports. If the price retraces, these zones could offer entry opportunities for the more daring.
In summary, FET is at a crucial point. Breaking the 24-hour high is vital for bullish momentum, but the selling pressure in the order book and the 5-day money flow suggest caution. Trade wisely!
