Summary
TLDR: Fetch.ai (FET) price hit an all-time high, currently in consolidation. Investors are optimistic about further price increases, with whale addresses accumulating tokens. FET is close to breaching a crucial resistance level, which could lead to a new all-time high. However, the cryptocurrency is close to being overbought, which could result in a correction if not managed properly.
Key Points
1. Fetch.ai (FET) price reached an all-time high earlier this month and is currently consolidating.
2. The support from investors is crucial for Fetch.ai’s price momentum, with optimism driving rallies and pessimism causing corrections.
3. Whale addresses holding between 1 million and 10 million FET tokens are accumulating, indicating a positive outlook for the price. Retail investors are also expecting profits, as shown by the consistent decline in the supply of exchanges.