Key takeaways
Why is FET increasing today?
Nvidia’s strong earnings boosted AI sentiment, helping FET reach $0.32 on higher trading volume and renewed market confidence.
What chain signs support this decision?
Whale accumulation and negative Exchange Netflow showed tokens leaving exchanges, reinforcing short-term bullish pressure on FET.
Global markets have spent the past week wondering whether massive investments in AI have pushed valuations too far.
Those fears intensified after funds such as Peter Thiel’s Thiel Macro exited their entire position in Nvidia in the third quarter, a move confirmed by regulatory filings.
But Nvidia’s latest results erased much of that anxiety.
Nvidia’s results calmed the AI panic
In a significant boost to the AI narrative, AI giant Nvidia reported revenue of over $57 billion in the third quarter.
In doing so, the company achieved another record performance for its data center division, which recorded $51 billion, beating the estimate of $49 billion.
The company raised its fourth-quarter forecast to $64 billion, a sign of confidence that demand will continue.
Source: Google Finance
As Nvidia reports higher revenues and presents a bullish outlook, AI shares have perked up after facing several uncertain days. In fact, Nvidia was up 5.08% premarket and 2.85%, adding 5.16 points at press time.
AI Tokens Rise with Nvidia Momentum
Significantly, following Nvidia’s stellar Q3 performance and bullish outlook for Q4, FET-led AI-themed plays have been reinvigorated.
In fact, the Artificial Superintelligence Alliance (FET) reacted immediately. The token reached a local high of $0.33 before a small retracement.
At press time, FET was trading at $0.32, up 10.08%, while trading volume increased 27% to $302 million, reflecting higher demand.
Who accelerated this price rise?
According to AMBCrypto, after positive developments in the AI sector, large investors, including whales, have increased their FET positions.
The average spot order size on CryptoQuant showed a sharp increase in orders from large whales last week. On top of this, AMBCrypto’s review of exchange activity revealed that these orders corresponded to accumulation rather than distribution.
Source: CryptoQuant
FET’s Exchange Netflow remained negative for two consecutive days.
The net flow stood at –1.4 million FET, following a deeper move of –15.5 million FET earlier. A negative Netflow shows that tokens are leaving exchanges, a sign of greater spot accumulation.
Source: CryptoQuant
Historically, periods of whale accumulation have preceded stronger price increases.
Can the momentum hold?
FET rallied after Nvidia’s earnings helped restore confidence in AI-related assets. However, the sustainability of this development depends on the persistence of demand throughout the week.
Source: TradingView
The strength of the token’s sequential pattern printed 15, showing the growing dominance of buyers. At the same time, FET moved above the EMA20, reinforcing short-term bullish momentum.
A close above the EMA20 ($0.29) keeps upside targets active. If demand maintains, buyers will target the EMA50 at $0.34, then the EMA100 at $0.44.
On the other hand, failure to hold above the EMA20 opens a window for sellers, with support near $0.26.
