FET starts a bull rally, but will it continue?

Title: FET Token Price Surges by over 100% in 30 days, Indicators Remain Bullish

As the cryptocurrency market continues to experience bullish conditions, FET, also known as Fetch.ai, has seen a significant surge in its price. The recent surge has led to the formation of a bullish pattern on the token’s chart, and several indicators suggest that the uptrend may continue.

FET is surging like no other:
In the last 30 days, FET’s price has increased by over 100%, outshining many other cryptocurrencies in the market. This surge has led to a 32% increase in just the last week, resulting in a substantial gain in market capitalization. The bullish trend is further supported by the formation of a bullish pattern on the token’s chart.

Investor reactions look impressive:
During the recent rally, investors have significantly increased their accumulation of FET tokens, indicating their optimism for a further uptrend. However, whales’ confidence in the token has declined, as seen from the decrease in the supply held by top addresses.

Realistic or Not, Here’s FET Market Cap in BTC‘s Terms:
While FET’s price has touched the upper limit of the Bollinger Bands, indicating a potential price correction, other indicators such as the MACD and Chaikin Money Flow (CMF) remain bullish. Additionally, FET’s Open Interest has increased along with its price, suggesting a high likelihood of a continued uptrend.

Despite the recent surge in price and bullish indicators, there are also potential risks such as overbought RSI and the possibility of a price correction. However, the overall market conditions remain favorable for FET, and investors are optimistic about the token’s future prospects.

### News source: eng.ambcrypto.com

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By Team