Artificial Superintelligence Alliance (FET) is showing strong signs of a potential trend reversal, with price momentum building and on-chain data revealing renewed confidence among large investors. After a 17% surge on Monday, FET continued its upward trajectory on Tuesday, rising 3% and closing in on a key technical resistance level—the lower boundary of a long-term descending channel. This movement suggests that the AI-themed cryptocurrency may be poised for a breakout, especially if bullish momentum holds.
The broader crypto market has seen a recovery in recent weeks, but FET’s rally appears to be driven by more than just market-wide sentiment. On-chain analytics from Santiment indicate that whale wallets—those holding between 10 million and 100 million FET tokens—have accumulated approximately 18 million FET since May 27. This accumulation follows a period of selling pressure, signaling a shift in investor sentiment from bearish to cautiously optimistic.
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Whale Accumulation Signals Growing Confidence
Whale behavior is often a leading indicator of future price action. In FET’s case, the data reveals a clear pattern of accumulation among mid-tier large holders. Santiment reports that total supply held by wallets with 10 million to 100 million FET increased from 663 million to 681 million since the end of May—a net gain of 18 million tokens.
Meanwhile, the largest holders (owning over 100 million FET) saw their total holdings dip slightly from 1.15 billion to 1.16 billion over the same period. While this may appear contradictory, the net inflow across all major whale categories still amounts to a positive 8 million FET, reinforcing the narrative of growing institutional or high-net-worth interest.
This accumulation phase often precedes significant price movements, especially when combined with improving technical indicators. The fact that whales are buying during a consolidation phase suggests they anticipate higher prices ahead—potentially after a confirmed breakout.
Technical Outlook: Breakout Imminent?
From a technical perspective, FET is approaching a pivotal moment. The current price action is confined within a descending channel formed by connecting the highs of May 23, May 29, and June 11 (resistance) and the lows of May 31 and June 22 (support). A daily close above the upper trendline—currently near the $0.72 level, which also aligns with the 50-day and 100-day Exponential Moving Averages (EMA)—would confirm a breakout.
A successful breakout could propel FET toward the 200-day EMA at $0.85, followed by a key resistance zone at $1.04—the highest closing price recorded in February. This would mark a significant reversal from recent bearish sentiment and re-establish bullish momentum in the medium term.
Key Technical Indicators Flash Bullish Signals
- MACD (Moving Average Convergence Divergence): The MACD line is nearing a bullish crossover above the signal line on the daily chart. Such crossovers often precede upward price movements, especially after extended consolidation periods.
- RSI (Relative Strength Index): The RSI has rebounded from near oversold territory (below 30) and is now approaching the neutral 50 level. An RSI above 50 typically indicates that buyers are gaining control.
These indicators, combined with increasing volume and whale accumulation, create a compelling case for a potential trend reversal.
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What’s Next for FET? Scenarios Ahead
While the outlook is optimistic, traders should remain aware of both bullish and bearish possibilities.
Bullish Scenario: Breakout and Reclaim $1.00
If FET sustains above $0.72 and breaks out of the descending channel, the next targets would be:
- $0.85 (200-day EMA)
- $1.04 (February high)
Such a move would likely attract renewed retail and algorithmic trading interest, further fueling upward momentum.
Bearish Scenario: Rejection and Return to Support
Failure to break above $0.72 could result in another pullback within the channel. The immediate support level sits at $0.548—the recent weekly low. A breakdown below this level could extend losses toward $0.50 or lower, invalidating the current bullish thesis.
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Frequently Asked Questions (FAQ)
Q: What is driving FET’s recent price increase?
A: The recent rally is supported by a combination of whale accumulation, improving technical indicators (such as MACD and RSI), and broader market recovery following geopolitical de-escalation between Israel and Iran.
Q: Is FET expected to break out soon?
A: Yes, FET is approaching a critical resistance level near $0.72. A daily close above this level—and the descending channel—would confirm a breakout, potentially opening the path to $0.85 or higher.
Q: How much FET have whales bought recently?
A: Mid-tier whales (10M–100M FET holders) have accumulated around 18 million FET since May 27, signaling renewed confidence in the asset’s long-term potential.
Q: What is the next major resistance level for FET?
A: After $0.72, the next significant resistance is at $0.85 (200-day EMA), followed by $1.04—the highest closing price from February.
Q: Could FET drop again if it fails to break out?
A: Yes. Failure to break above $0.72 could lead to a retest of support at $0.548. A breakdown below that level might push prices toward $0.50 or lower.
Q: What role does AI play in FET’s value proposition?
A: FET powers decentralized AI services on the Fetch.ai network, enabling autonomous agents for tasks like data forecasting, DeFi optimization, and supply chain automation—making it a key player in the AI blockchain space.
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Final Thoughts
FET is at a technical crossroads. With whale accumulation intensifying and momentum indicators turning bullish, the odds of a breakout are increasing. A confirmed move above $0.72 could trigger a rally toward $1.04, reclaiming lost ground from earlier in the year.
However, traders should remain cautious until the breakout is confirmed with strong volume and sustained price action. Monitoring whale activity and key technical levels will be essential in navigating the next phase of FET’s price journey.
As AI continues to dominate innovation cycles in blockchain and beyond, tokens like FET remain at the forefront of investor interest—making this potential breakout one to watch closely in the coming weeks.