I - Onchain data from 52Hz Onchain (https://t.me/Onchain52Hz/5582) (in Vietnamese)
FET - the native token of the Fetch.ai platform, a decentralized network for building and deploying AI applications.
AmberGroup, a leading digital asset investment firm focused on crypto, transferred 467,135 FET (approximately $845k) to Binance CEX[1].
(https://talkimg.com/images/2024/03/03/yZNwd.jpeg)
In the past, AmberGroup deposited around 1M-1.5M FET tokens to the exchange before price increases. The current deposit is about 50% of the previous amounts, which could hint that AmberGroup is preparing for another price increase.
(https://talkimg.com/images/2024/03/03/yZI4z.jpeg)
Whale average entry price on CEX & Dex in the last 7 days: $1.4-$1.7.
(https://talkimg.com/images/2024/03/03/yZ322.jpeg)
(https://talkimg.com/images/2024/03/03/yZEN5.jpeg)
According to data from Scopeschat, FET has broken its previous high and faces no resistance above.
With the growing interest in AI, there is a high probability that AmberGroup will continue to push FET to a new high.
II - Technical analysis (Weekly chart)
FET token price is being very well supported by Kumo cloud (Ichimoku) and Weekly EMA34 (Sonic-R), with absolutely no signs of reversing from increase to decrease.
(https://www.tradingview.com/x/VQ4vVFNt/)
[1] Money Flow Amber (https://scan.0xscope.com/moneyFlow/0xec9fc235a8064698a2533c2d489deff4fba8226b?id=1764192751756787712&network=eth&pp=52Hz)