The Super AI Alliance token ($FET ) has experienced a sharp decline, hitting $1.08, its lowest price since September 2024. This downturn coincides with a wave of whale sell-offs, which has intensified downward pressure on the token. As the market grapples with uncertainty, traders are closely monitoring whether FET will stabilize or continue its descent.
š Whale Activity Triggers Market Sell-Off
According to on-chain data from Santiment, large holders controlling between 10 million and 100 million FET tokens have collectively offloaded over $25 million worth of tokens in the past week. This mass liquidation contributed to a 7% price decline, reinforcing bearish sentiment.
When whales offload substantial amounts of a token, increased supply often outweighs demand, leading to price depreciation. If this selling trend persists, FET could face additional downward pressure, potentially testing lower support levels.
š Bearish Sentiment Fuels Uncertainty
The weighted sentiment indicator for FET currently stands at -0.41, signaling that investor confidence remains low. This metric, which gauges social media discussions and market sentiment, confirms a prevailing bearish bias. When sentiment is overwhelmingly negative, traders tend to reduce exposure, further impacting liquidity and price action.
Additionally, FET is trading below its 20-day Exponential Moving Average (EMA), a key indicator of market momentum. When an assetās price remains below this level, it often suggests continued bearish pressure and potential for further declines.
š® Will FET Fall to $0.70 or Stage a Recovery?
If selling pressure intensifies, FET could test the $1.02 support level. A breakdown below this key threshold could drive the token further down toward $0.70, where it may seek stronger buying interest.
However, if market sentiment shifts positively, coupled with renewed demand, FET could reverse course and challenge resistance at $1.29. A resurgence in buying momentum and institutional interest would be crucial to supporting a recovery in price action.
š¢ Final Thoughts ā Whatās Next for FET?
The next few trading sessions will be critical in determining FETās trajectory. If whale sell-offs persist, the token could face further downside. However, a surge in demand or favorable market developments may provide the catalyst for a price rebound. Investors should remain cautious, monitor technical levels, and assess broader market sentiment before making trading decisions.
š¢ Do you think FET will recover, or is a deeper correction on the horizon? Share your thoughts below! š
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