• FET token holders have till Monday to affix the ASI merge migration queue.
• FET buying and selling quantity has surged by 38.58%, however the token has not too long ago skilled value volatility.
• Regardless of bullish sentiment, vital liquidation of lengthy positions occurred.

FET token holders on decentralized Ethereum wallets are dealing with a crucial deadline to affix the ASI merge migration queue and danger being liquidated, resulting in elevated buying and selling exercise and value volatility for the Fetch.ai undertaking's token.

As Fetch.ai highlighted on its official X (previously Twitter) account, the deadline is looming on Monday and failure to take part may lead to liquidation. This urgency has led to some large strikes within the FET market, mirrored in current value fluctuations and buying and selling volumes.

On the time of writing, FET is buying and selling at $1.20, displaying a modest improve of 0.42% over the previous 24 hours. This value motion has been accompanied by a notable improve in buying and selling quantity, which jumped 38.58% to $162,448,947, indicating elevated buying and selling exercise. The market cap has additionally risen 0.42% to $3,024,743,486, reinforcing the constructive sentiment.

Our newest value development evaluation exhibits that FET hit a current excessive of round $1.1964 earlier than experiencing a major decline. Nonetheless, after dropping to this low, it shortly recovered, with the value discovering robust assist close to the $1.05 degree. The present value of $1.20 is simply above the earlier resistance degree of $1.1964, suggesting a brand new assist degree and potential bullish momentum.

FET's key assist degree is close to the $1.05 degree and the rapid resistance degree is close to the $1.1964 degree. As it’s presently buying and selling at $1.20, it might set up new assist at this degree suggesting a potential breakout. If the bullish development continues, future resistance ranges could also be round psychological benchmarks resembling $1.25 and $1.30.

In accordance with information from Coinglass, buying and selling quantity for FET derivatives elevated by 24.73% to $143.06 million, whereas open balances fell by 3.38% to $31.67 million. The lengthy/brief ratio over the previous 24 hours was 0.9294, indicating a slight predominance briefly positions.

The FET lengthy/brief ratio is at a bullish 2.6258 with high merchants additionally indicating robust bullish sentiment. Nonetheless, lengthy positions have confronted vital liquidation with $316,860 liquidated within the final 24 hours, of which $289,210 was from lengthy positions.