Artificial Superintelligence Alliance (FET) has plunged 34%, marking its largest drop in months. This sharp decline confirmed a three-month-old bearish pattern. While retail investors panic, whales are buying the dip, signaling possible confidence in a rebound.
FET Investors Face Heavy Losses
FET holders have suffered historic realized losses as many rushed to sell off their holdings this week. Market sentiment remains highly bearish, with retail investors hesitant to make moves.
Fear of further losses is keeping traders on the sidelines, adding to market uncertainty. This cautious approach suggests investors are waiting for stability before re-entering.
Whales Accumulate Despite Market Crash
While smaller investors panic, whales are buying heavily. Wallets holding 1 million to 100 million FET have accumulated 92 million FET, worth $70.8 million, over the past week.
This activity hints at long-term confidence. Whales often buy during major sell-offs, anticipating future price recoveries. Their bullish stance contrasts with the broader market’s fear-driven selling.
FET Price Prediction: Rebound or More Losses?
FET recently broke through the $1.19 support, dropping to $0.77. This confirmed the head and shoulders pattern, which predicted a 43.6% decline to $0.73.
Currently, the price is holding above $0.76, suggesting a possible bottom. If this level holds, FET could recover and aim to flip $1.04 into support.
However, if FET falls below $0.76, it could retest $0.73. A further drop could push it to $0.64, invalidating any bullish recovery hopes.
