FET Price Prediction: The Profits May Soon Turn to Losses

Holders of the Artificial Superintelligence Alliance (FET) token have seen profitable returns this week. On-chain data indicates that most transactions over the past seven days have ended with gains.

Holders of the Artificial Superintelligence Alliance (FET) token have enjoyed a profitable week, with most transactions ending in gains. However, bearish sentiment could lead to a 16% decline in the altcoin's value.

Artificial Superintelligence Alliance Holders See Gains

FET price is currently $0.84, showing a 3% gain over the past seven days. Analysis of the token's daily on-chain transaction volume ratio in profit versus loss reveals that most traders secured gains during this period. On Thursday, the metric reached 2.40, its highest level since July 27.

This metric tracks the proportion of an asset's daily on-chain transaction volume that ends in profit compared to those that result in a loss. A value of 2.40 indicates that for every FET transaction ending in a loss on Thursday, 2.4 transactions concluded in profit.

When this ratio is elevated alongside a surge in trading volume, it usually signals accumulation by large investors. The recent increase in FET's supply distribution over the past week further supports this trend.

According to Santiment's data, there was a 16% increase in the number of FET whales that hold between 10,000 and 100,000,000 tokens in the past seven days. This cohort of FET investors holds over 37,000% of the altcoin's circulating supply of 2,520,000,000 tokens.

FET Price Prediction: Profits May Soon Turn to Losses

Despite the short-term profits enjoyed by FET holders, caution is advised as bearish sentiment persists. This is evident from the Elder-Ray Index, which has consistently shown negative values since July 23. As of now, the indicator is at -0.097.

The Elder-Ray Index measures the balance of power between buyers and sellers. Negative values indicate that sellers are in control, reflecting bearish dominance in the market.

Moreover, FET is currently trading below its 20-day exponential moving average (EMA), which tracks its average price over the last 20 trading days. Trading below this level signals a short-term downtrend, indicating that recent price action is weaker than the 20-day average — a bearish signal for traders.

If FET's decline continues, its price may drop to $0.70. It last traded at this level on August 5, during the general market downturn. However, if market sentiment turns bullish, the token's price could rebound and rally above $1, potentially reaching $1.35.

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