- A whale repurchased 1.79M $FET at $1.33 after selling at $1.02, showing renewed market interest in Fetch.ai.
- $FET rose 73% since a crypto analyst’s buy recommendation, reaching $1.3890 with strong upward momentum.
- Recent whale activity and sustained price growth signal positive sentiment for Fetch.ai, reaching a high of $1.3890.
Fetch.ai ($FET) has experienced a sharp price surge of 70% in the past week. One particular whale’s actions have stood out, revealing a substantial amount of transaction involving $FET tokens.
Notably, this whale repurchased 1.79 million $FET tokens from Binance at $1.33, spending 2.385 million USDT. This trade occurred roughly six hours ago, marking an unusual shift in strategy for the whale, who had sold 2.33 million $FET at a lower price of $1.02 between August 11 and August 23.
Whale’s Regret Evident in Recent Buyback
The whale’s activity shows a potential change in sentiment, as they decided to repurchase tokens at a higher price after selling them at a lower value just days earlier. The whale initially sold 2.33 million $FET for 2.385 million USDT when the price was lower, around $1.02.
Now, the same whale is buying back nearly the same amount, but at a price of $1.33 per $FET. This sequence of events demonstrates a costly decision, as the whale paid a premium to regain their tokens. Nevertheless, the whale’s re-entry into the market reflects a renewed interest in $FET, especially given the recent price jump.
Analyst Observes Fetch.ai’s Performance
Crypto analyst and trader DrProfitCrypto pointed out that $FET has gained 73% since their recommended entry point. The cryptocurrency has been experiencing strong upward momentum, reaching $1.3890 on Coinbase. This price movement, coupled with the whale’s actions, indicates significant market interest in Fetch.ai.
On a 4-hour price chart, there has been a clear upward trend, with the price increasing by over 72%, gaining approximately $0.5826. According to the analyst, the timing of the buy during a dip in mid-August played a crucial role in capitalizing on the subsequent surge.
Read CRYPTONEWSLAND on
google news
Source: DrProfitCrypto
Strong Price Movement on Display
Fetch.ai reached a high of $1.3890, reflecting a positive trend and renewed interest in the cryptocurrency. The rapid upward movement in $FET’s value has been highlighted as a successful trade opportunity by DrProfitCrypto, who emphasized the importance of timely buying during a market dip.
Each of the 4-hour intervals shows sustained growth, with the most recent candle reflecting a 3.05% increase. The whale’s actions, combined with ongoing positive market sentiment, continue to drive Fetch.ai’s performance.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
