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Artificial Superintelligence Alliance [$FET] rebounded from $0.19, reclaimed $0.20 and touched a three-month high near $0.23. At press time, $FET traded around $0.229, up 16% in 24 hours.
Trading activity rose with the price. Volume increased 44% over the same period, while Daily Turnover reached a three-month high of $61 million.
But after $FET’s previous rally faded, could this round of buying hold?
Why did $FET rebound?
An earlier AMBCrypto report found that rising Exchange Reserves had complicated $FET’s previous advance. This time, spot activity suggested buyers had stepped in after the dip.
Spot Buy Volume rose to 123 million $FET over 24 hours. Meanwhile, Delta exceeded 9 million $FET, indicating that buying outpaced selling on the measured spot markets.
Exchange Netflow also turned negative after two consecutive positive days. It stood near -241,000 $FET at press time, suggesting more tokens left exchanges than entered them.
That shift eased the immediate exchange-supply concern. Derivatives traders, however, sent a less uniform signal.
Are $FET traders betting on more gains?
Derivatives Volume climbed 63% to $272 million, while Open Interest rose 21% to $125 million. Together, those increases showed that traders were taking more positions as $FET rallied.
On Binance, Artificial Superintelligence Alliance’s [$FET] Long/Short Ratio held above 2, showing a strong lean toward long positions among the measured traders.
However, the overall Long/Short Ratio remained below 1. Bullish positioning on one exchange had yet to spread across the broader derivatives market.
Can $FET hold $0.23?
Directional indicators supported the recent price move. The positive directional indicator rose to 33, while the negative directional indicator fell to 8.
Artificial Superintelligence Alliance’s RSI also held in bullish territory. If demand persists, $FET could hold $0.23 and move toward $0.28.
If traders take profits as they did after the previous rally, $0.20 could face another test. The difference may come down to whether spot buyers stay active after the initial rebound.
Final Summary
- $FET rose 16% to a three-month high near $0.23 as Spot Buy Volume and Daily Turnover increased.
- Open Interest rose, but the overall Long/Short Ratio showed that derivatives traders remained divided.