- FET has surged 20% after bouncing off a crucial support level at $1.
- The altcoin’s metrics indicated increased whale activity and a rise in active addresses.
Artificial Superintelligence Alliance [FET] has witnessed an impressive 20% rally after retesting the $1 key support level.
This price level-established on Trump’s inauguration day for the first time-has proved its strength once again.
As of this writing, FET’s prices were testing a key pennant support level that was previously breached due to heightened selling pressure on the eve of Trump’s inauguration.
Source: TradingView
The recent price bounce has sparked bullish momentum, suggesting renewed confidence among the market participants.
FET whales make significant moves
A significant spike in whale activity added to the optimistic outlook for FET. The altcoin’s large transactions were up by 106% in the last 24 hours, according to the IntoTheBlock data.
This indicates strong interest from large holders and institutions, which often signals accumulation and potential price movement.
Whale activity often precedes significant altcoins price movements. With increased participation from these major market movers, FET could be gearing up for a bullish breakout to test higher resistance levels.
Source: IntoTheBlock
Active addresses also witness a surge
Another positive on-chain metric observed was the surging number of active addresses. Over the past 24 hours, the number of active FET addresses has increased by 5%, according to IntoTheBlock.
This surge indicates a rise in network activity, suggesting that more users are coming into the altcoin ecosystem.
An increase in active addresses often complements whale activity, as it shows broader market interest beyond large holders. Combined, these positive metrics paint a bullish picture for altcoin in the near future.
Source: IntoTheBlock
Can the momentum lead to a bullish reversal?
The recent dip on the eve of the Trump’s inauguration had left the investors on a fear mode and altered the overall FET bullish rally.
However, the recent bullish momentum in convergence with surging whale and trading activity paints a bullish picture that could consequently ignite investors interest.
AMBCrypto’s analysis on FET liquidation heatmap data also affirmed the altcoin’s bullish sentiments. The data indicated a bullish bias with a liquidation pool of 342K at around $1.44 price level.
Read Artificial Superintelligence Alliance’s [FET] Price Prediction 2025–2026
The price level could act as a magnet to pull the altcoin price up based on the recent positive on chain and technical indicators.
If bullish momentum and on-chain developments hold, FET bullish reversal could be on the cards.
Source: Coinglass
