Fetch.ai (FET) Lags Behind Other AI Coins, Raising Concerns About Its Ability to Maintain Its Position

FET price has been underperforming compared to its closest competitors over the past week, down more than 8%. Despite being the second-largest AI cryptocurrency by market cap, it has struggled to keep pace with other major players in the sector.

FET price analysis reveals a concerning lag compared to its competitors in the AI cryptocurrency sector. Despite being the second-largest AI coin by market capitalization, FET has underperformed significantly over the past week.

While competitors like RNDR and WLD have soared with gains of 39.14% and 17.5%, respectively, FET has seen a price decrease of 8.16%. This lagging performance raises questions about FET's ability to maintain its position.

As the second-largest AI coin, FET trails behind TAO in market capitalization and ranks second in weekly trading volume, following WLD. However, in terms of performance, FET has lagged behind its peers.

With RNDR positioned at number three and WLD at number four, their recent gains are putting pressure on FET, which currently stands at number five in the top five AI crypto rankings.

If RNDR experiences an additional 15% increase in market capitalization and FET remains stable, the two will be on par, potentially leading to a shift in the rankings.

Continuing our analysis, we examined the holdings of large addresses, commonly referred to as "whales," and their impact on FET price movements.

According to our observations, addresses holding 1,000,000 to 10,000,000 FET are classified as whales. As of November 15, there were 149 addresses in this category, up from 147 on November 9.

However, this number is still lower than the 153 addresses recorded on November 3.

Tracking the activity of these whale addresses is essential, as they often play a significant role in influencing price movements.

While the number of FET whales has increased slightly over the last five days, it remains below the level seen in early November. This indicates that large holders might still be being cautious, and the full confidence seen previously hasn't yet returned.

Although there has been a modest recovery in the number of whales, the reduced activity may suggest lingering uncertainty or hesitation, which could influence FET’s price stability and future performance in the short term.

Now, let's shift our attention to the FET price analysis from a technical perspective. The chart we're using for this analysis is displaying a potential warning sign.

As you can see, the short-term EMA (Exponential Moving Average) for FET has dropped significantly over the past few days and is close to crossing below the long-term EMA.

If this happens, it will form a "death cross," a bearish signal indicating a possible shift toward a downtrend.

We're closely monitoring this development, as it could have a substantial impact on FET's price trajectory.

If the death cross occurs, we can expect FET price to test its nearest support at $1.18. If this level fails to hold, the price could drop to $1.08, representing a potential 16% correction from the current price.

However, if momentum shifts positively, FET price may attempt to challenge resistances at $1.45 and $1.53. Breaking these levels could see it rise to $1.64, offering a potential 35% price increase.

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