Breaking down FET’s bullish projection: $3, $5, then $10?

• FET was trading within a bullish pattern, which could propel its price to higher levels.
• There was significant involvement from large investors, potentially driving the anticipated upward trend.

Artificial Superintelligence Alliance [FET] recently experienced a 7.65% price increase, reaching $1.88. This positive movement was accompanied by notable growth in trading volume and market capitalization.

Trading volume surged by 21.28% to $708.66 million, while market capitalization grew by 7.65%, valuing the cryptocurrency at $4.58 billion.

According to AMBCrypto, this could mark the start of sustained gains for FET, with expectations of further upward momentum in the coming days.

FET ready for double-digit trade

A crypto analyst has presented a bullish outlook for FET, as the asset trades within an ascending triangle pattern.

This triangle pattern, also known as an ascending channel, occurs when the price fluctuates between a horizontal resistance line and a diagonal support line.

Currently, FET has broken through the resistance level, positioning itself for continued upward momentum.

The analysis suggests that FET has two potential short-term targets: $3 and $5. These levels are expected to coincide with profit-taking activities in the market.

Source: X

In the long term, analysts predict that FET could trade even higher, potentially surpassing the $10 mark, signaling a significant rise from its current level.

He stated,

“Double digits for FET in 2025.”

AMBCrypto noted that current market sentiment is largely bullish, with large investors, or whales, playing a key role in driving this optimism for FET.

Whales fuel FET’s current surge

Data from IntoTheBlock revealed significant whale activity driving FET’s recent market movement.

Notably, there has been a marked increase in the number of large transactions. Over the past 24 hours, transaction volume surged, with 150 large transactions recorded during this period.

Source: IntoTheBlock

Additionally, the average transaction size has risen, with the 7-day moving average now at $29,168.51.

Such a jump in average transaction size indicates that large investors, or whales, are likely behind the current activity, with FET being the asset of focus.

Source: IntoTheBlock

If whale interest remains strong and positive for FET, it is expected that the asset will continue its bullish trajectory.

More FET holders are bullish

It’s not just whales that are optimistic about FET—smaller holders are also showing bullish sentiment.

According to data from IntoTheBlock, which reflects the number of tokens in profit at the current price, 82% of FET holders are in the green, while 14% are at a loss and 5% are breaking even.

When a larger proportion of holders are in profit, it creates an incentive for the asset to continue trending upward.

Read Artificial Superintelligence Alliance’s [FET] Price Prediction 2024–2025

In this context, price dips are likely to be seen as temporary retracements, with the broader rally expected to persist.

If this trend continues, reaching double digits for FET in the near term is certainly within reach, although it may experience short-term fluctuations along the way.