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    Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

    • 1 minute read

    FET Bullish Divergence Hints at 45% Surge, Buy Signal?

    • currency-symbol FET $ 0.4798 (-5.38%) top looser
    Story Highlights
    • FET could soar 45% to reach $1.10 in the coming days

    • FET traders are over-leveraged at $0.731 on the lower side and $0.785 on the upper side.

    • On-chain metrics reveal that exchanges have witnessed an outflow of approximately $1.50 million worth of FET tokens

    After witnessing a 65% price drop over the past two months, the Artificial Superintelligence Alliance (FET) appears ready for takeoff, supported by bullish price action on both weekly and daily time frames. With an ongoing price recovery, FET tokens are gaining significant attention from traders and investors, which could help the asset rebound soon.

    Current Price Momentum 

    Today, February 21, 2025, FET is trading near $0.778 after surging over 9.50% in the past 24 hours. During the same period, its trading volume increased by 17%, indicating growing interest from investors and traders compared to the previous day.

    FET Technical Analysis and Upcoming Levels

    According to CoinPedia’s technical analysis, FET appears bullish and is poised for significant upside momentum, as its technical indicators are flashing a bullish divergence on the weekly time frame. Additionally, FET seems to be forming a bullish double-bottom price action pattern and is currently on the verge of completing its second upward leg.

    Based on historical patterns, if the asset holds above the $0.70 level, there is a strong possibility it could surge by 45% to reach $1.10 in the coming days and by 165% overall to reclaim the $2.05 level, which FET lost in December 2024.

    Investors Bearish Outlook

    Despite bullish momentum, some investors are offloading FET, as reported by the on-chain analytics firm Coinglass. Data reveals that exchanges have witnessed an outflow of approximately $1.50 million worth of FET tokens, suggesting that some holders have sold off their positions.

    Major Liquidation Levels

    Meanwhile, traders betting on the long side are currently dominating the asset. At press time, the over-leveraged levels are $0.731 on the lower side and $0.785 on the upper side, where traders have built millions worth of long and short positions. Data shows that traders hold $1.03 million worth of long positions at the $0.731 level and $270,000 at the $0.785 level.

    When combining these on-chain metrics, it appears that some traders are taking advantage of the current market sentiment, while others, driven by fear, are dumping the asset.

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