- FET token holders face a Monday deadline to take part within the ASI Merge Migration Queue.
- FET buying and selling quantity elevated by 38.58%, however the token has seen worth volatility just lately.
- Regardless of the bullish sentiment, there have been important liquidations of lengthy positions.
FET token holders on Ethereum decentralized wallets face a vital deadline to take part within the ASI Merge Migration Queue or threat liquidation, leading to elevated buying and selling exercise and worth volatility of the Fetch.ai undertaking token.
As Fetch.ai factors out on its official X (previously Twitter) account, the deadline is quick approaching; Monday and failure to attend might end in liquidation. This urgency has generated important exercise within the FET market, which has been mirrored in latest worth actions and buying and selling volumes.
On the time of writing, FET is buying and selling at $1.20, up a modest 0.42% over the previous 24 hours. This worth motion comes with a major improve in buying and selling quantity, which elevated by 38.58% to $162,448,947, indicating elevated buying and selling exercise. Market cap additionally rose 0.42% to $3,024,743,486, reinforcing constructive sentiment.
Within the newest worth pattern evaluation, FET noticed a latest excessive of round $1.1964 earlier than a major decline. Nevertheless, the value discovered sturdy help round $1.05, displaying a fast restoration after falling to this low. The present worth of $1.20 is simply above the earlier resistance stage of $1.1964, indicating a brand new help stage and potential bullish momentum.
A key help stage for FET is round $1.05 and fast resistance is close to $1.1964. With the present buying and selling worth at $1.20, this means a doable breakout with an opportunity to kind new help at this stage. If the bullish pattern continues, future resistance ranges may very well be round psychological benchmarks reminiscent of $1.25 and $1.30.
In accordance with knowledge from Coinglass, buying and selling quantity in FET derivatives elevated by 24.73% to $143.06 million, however open curiosity decreased by 3.38% to $31.67 million. The lengthy/quick ratio for the final 24 hours is 0.9294, indicating a slight preponderance of quick positions.
The FET lengthy/quick ratio is bullish at 2.6258, with high merchants additionally displaying sturdy bullish sentiment. Regardless of this, lengthy positions confronted important liquidations, with $316,860 liquidated within the final 24 hours, together with $289,210 from lengthy positions.
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