FET token from the Artificial Superintelligence Alliance shows signs of a looming sell-off, with bearish indicators and declining network growth.
Points
- FET price struggles to maintain above $1, currently trading at $1.29.
- Negative Market Value to Realized Value （MVRV） indicates potential sell-off.
- Declining network growth suggests reduced adoption.
FET Price Decline and Bearish Indicators
The FET token from the Artificial Superintelligence Alliance is showing signs of a looming sell-off. After peaking at $3.10 during the AI market boom, FET now struggles to hold above $1. Currently trading at $1.29, the token faces significant bearish pressure.
MVRV Long/Short Difference
According to Santiment, FET’s Market Value to Realized Value （MVRV） Long/Short Difference is -11.61%. This negative value suggests that short-term holders are likely to realize more profits than long-term holders, indicating the end of a bear cycle or the start of a bull market.
The token exited the bear market in October 2023, with its price rising to $0.39. However, prolonged price increases have led to recent declines, with the MVRV indicator at levels similar to those before the bull run began.
Network Growth Decline
FET’s network growth, which tracks the number of new addresses making their first transaction, has been declining. This suggests reduced adoption from new market participants, posing a risk for further price drops below $1.
FET Price Prediction: A Decrease Lies Ahead
The Supertrend indicator suggests a buy signal at $1.11, but resistance around $1.34 and a bearish RSI below the neutral region indicate potential further declines. If FET is rejected at $1.34, it could drop to $1.04.
Increased buying pressure might invalidate this prediction, pushing FET to $1.43 and potentially $1.67.
解説
- MVRV Indicator: A tool for assessing profit potential between long-term and short-term holders, with negative values indicating bearish trends.
- Network Growth: Declining network growth signals reduced adoption, which can negatively impact price.
- Technical Indicators: Understanding Supertrend and RSI helps predict potential price movements and market sentiment.