FET, the native token of the Artificial Superintelligence Alliance, has gained significant attention as its price shows strong bullish movement. Recently, the token saw a 7.65% increase, pushing its value to $1.88. Along with the price increase, FET also saw a substantial rise in trading volume, which surged by over 21%, reaching a total of $708.66 million. Its market capitalization grew by 7.65%, bringing its total value to $4.58 billion. These recent developments have raised expectations that FET could continue its upward trajectory, with some analysts predicting significant price increases in the near future.

Bullish Technical Patterns Indicate Further Gains

FET is currently trading within a bullish ascending triangle pattern. This technical formation often signals continued upward movement. An ascending triangle occurs when the price fluctuates between a horizontal resistance line and a rising support line, indicating that the price is building momentum to break through the resistance level. FET has recently broken this resistance, positioning itself for further price increases.

In the short term, analysts are predicting two key price targets for FET: $3 and $5. These levels are anticipated to trigger profit-taking activities in the market, but they also represent significant milestones for the cryptocurrency. If FET can surpass these targets, it could pave the way for even more substantial gains. Long-term projections suggest that FET could potentially reach double digits, surpassing $10 by 2025, marking a significant leap from its current price.

Whale Activity Signals Growing Confidence in FET

One of the primary drivers behind FET’s recent price movement is the involvement of large investors, also known as whales. Data from IntoTheBlock shows that whale transactions have increased significantly, with 150 large transactions recorded within the last 24 hours. Additionally, the average transaction size has risen, now standing at approximately $29,168.51, further indicating that whales are heavily investing in FET.

Whale interest is often a strong indicator of market confidence, and this surge in large transactions suggests that many investors believe in FET’s long-term potential. As whales continue to invest, it could fuel further growth and upward momentum for FET.

Optimism Among Smaller Investors

FET’s rise isn’t just supported by large investors; smaller holders are also optimistic about the cryptocurrency’s future. Data from IntoTheBlock shows that 82% of FET holders are currently in profit, which is a strong signal of confidence in the asset. When a large portion of holders are in profit, it reduces the likelihood of a sell-off, as many are more likely to hold onto their investments for the potential of further gains. This creates an environment where the asset is more likely to continue trending upward.

Looking Ahead: FET’s Future Potential

While the future looks bright for FET, cryptocurrency markets are inherently volatile, and short-term price fluctuations are to be expected. However, the overall sentiment toward FET remains positive, with both whale activity and bullish sentiment among smaller holders supporting the token’s upward movement. If these trends continue, FET could see further price gains, reaching new price targets of $3, $5, and even $10 as projected.

FET’s continued growth will likely depend on maintaining strong investor confidence and the token’s ability to break through additional resistance levels. If FET can continue to build on its current momentum, its bullish outlook could become a reality in the near future.