Summary
TLDR: Fetch.ai (FET) price reached a new all-time high of $2.00, reflecting a 200% rise in three weeks. Investors are still accumulating FET despite this, leading to potential further price increases. However, whale addresses have been selling their holdings, which could lead to a price decline back to $1.71.
Key Points
1. Fetch.ai (FET) price surged to a record high of $2.00, marking a 200% rise over the past three weeks, with established support levels at $1.05 and $1.70.
2. The Global In/Out of the Money (GIOM) indicator shows that 100% of the circulating supply of FET is yielding gains to investors, indicating growing interest and confidence in the asset.
3. FET whale addresses have been selling their holdings since mid-February, potentially impacting the price action and leading to a decline if continued, especially with the altcoin currently being overbought according to the Relative Strength Index (RSI).