FET price targets suggest a 20-30% rally

Artificial Superintelligence Alliance (FET) is capturing attention as it consolidates near $1.33, with traders anticipating a potential breakout above the critical $1.38 resistance level.

This movement could lead to a significant 20-30% price surge if sustained bullish momentum takes hold.

Currently trading at $1.33, FET experienced a minor dip of 1.19% over the past 24 hours.

However, the growing network activity and improving technical indicators point toward the possibility of an upward trend.

FET's price is following a descending channel pattern, with $1.38 identified as the key resistance level.

Breaking through this level could push the price up to $1.60.

Historical trends indicate that FET has successfully surpassed similar patterns, but robust trading volume and persistent bullish momentum are necessary to confirm the rally.

On-chain metrics reveal rising network engagement, with new addresses increasing by 47.36% and active addresses climbing by 12.46% over the last week.

This surge in activity demonstrates growing adoption within the FET ecosystem and increased investor confidence.

Exchange reserves show a slight uptick of 0.12%, indicating traders are cautiously holding coins on exchanges.

A reduction in reserves could signify accumulation, which may create upward pressure on prices.

Technical indicators for FET provide a mixed outlook.

While the moving average cross suggests a potential price rise, the Average Directional Index (ADX) at 15.76 highlights weak trend strength, needing further confirmation through volume and price action.

Meanwhile, liquidation data indicates $13,000 in short liquidations compared to $1,560 in long liquidations, suggesting short-term bearish dominance.

However, a move above $1.38 could trigger further short liquidations, amplifying the bullish sentiment and fueling momentum.

At the time of reporting, the Artificial Superintelligence Alliance (FET) price was $1.26.