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Artificial Superintlelligence Alliance (FET) recently experienced a sharp 34% drop in prices, denoting their greatest decline months. This collision confirmed the quarterly form that provided for such correction.
While investors suffer historical losses, they make whales capitalize lower prices, which indicates potential confidence in a future recovery.
Artificial Superinthligence Allies are investors
The realized losses for FET holder reached their highest level in the history of Altcoin. This is the result of many investors who sell their properties earlier this week to prevent further losses. As a result, a general feeling of the market remains a high bear.
Many retail investors hesitated to move, reflecting the pessimistic prospects on the market.
This sale led to an increase in caution among the investor base, and traders refrained from significant action in the face volatility market. Fear of additional losses are currently outperforming the desire to accumulate, causing many to stay aside.
Fet achieved losses. Source: Santiment
Despite broadly widespread losses, whales activity was especially bulls. Addresses for holding between a million and 100 million feta added approximately 92 million feta into their possessions in the past week, worth 70.8 million dollars. This lower level accumulation signals that whales are positioned for a potential recovery, showing confidence in the long-term potential of FET.
This quality accumulation is a key optimism sign despite the current market decline. Whales are often viewed as more experienced market participants, and their ability to buy in periods of significant falling price can indicate their belief in a possible recovery.
Wholdings whot whot whot. Source: Santiment
FET prices forecast: Support bouncing
The price of the fruits broke through the key level of support of $ 1.19, decrease at $ 0.77 at the time of writing. This decline confirms the validity of the sample of head and shoulders, which predicted 43.6% falls to $ 0.73. The market seems to perceive a sharp correction, as expected, leading to this significant withdrawal.
Currently, the FET is held above support 0.76 dollars, which suggests that the market bottom may be reached. If that support is enough, Altcoin will have the opportunity to regain their recent losses. However, for a successful recovery, the FET must transfer 1.04 in the amount of 1.04, signaling the end of the correction.
FET price analysis. Source: TradingView
On the other hand, if the fet loses a level of support from $ 0.76, he could fall further. The next potential goal is 0.73 USD, and the fall below this level could see the price approaching $ 0.64, which would undo the Back prospects and led to further losses.
