Key Takeaways
Why is Fetch.ai [FET] under pressure?
Oh, darling, the exchange reserves have more holes than a detective novel-plunged from a plump $300 million to a mere $113.9 million. Traders, it seems, are fleeing like guests from a bankrupt duchess’s soirée. 🏃♂️💨 Confidence? Not even a whisper.
What’s shaping FET’s near-term sentiment?
Shorts now rule the ballroom with a dashing 54.74% dominance-because nothing says romance like betting against your own future. 💌💔 Prices remain caged below $0.23, as buyer conviction is about as strong as a poet at breakfast.
Artificial Superintelligence Alliance [FET], in what can only be described as a fashionably dramatic exit, slithered 13% downward in 24 hours. At press time, it lingers near $0.229-neither alive nor dead, much like a Wildean hero in Act III. 🌹🎭 Despite flirtations with $0.26, sellers laughed, shrugged, and kept the keys.
FET exchange activity signals weak demand
AMBCrypto’s examination of CryptoQuant’s Exchange Depositing Transactions data reveals a trend more persistent than a bad penny: a slow, soul-crushing decline since late October. Could it be accumulation? Perhaps. Or perhaps investors are just too bored to click “sell.”
Lower deposits might suggest loyalty, but let’s not mistake apathy for affection. The market is less a lover and more a sleepwalker-waiting for a scream to wake it. 🧟♂️💤
CryptoQuant’s Exchange Reserve data? A tragedy in three acts: $300 million in October, now a paltry $113.9 million by November 3rd. A fallen empire, really.
Falling reserves usually mean holders are tucking tokens away like love letters under a mattress. But here? The price dropped too-so it’s not romance, it’s abandonment. Tokens are leaving exchanges, not for glory, but for exile. 📭🌍
Shorts dominate the market
CoinGlass reports a Long/Short Ratio of 0.83-meaning shorts hold 54.74% of open interest. It’s like a banquet where all the guests came to leave a bad review. 🍽️📉
This imbalance isn’t just bearish-it’s sarcastically bearish. Liquidity thins, exchange activity snoozes, and the market prepares its next dramatic swoon.
And if the ratio stays below 1.0? Oh, then we might see volatility so sharp it could cut glass-or a fool’s heart. Liquidations loom like surprise plot twists. Will it be a rally? A rout? Only the algorithm knows. 🤖🎭
What’s next for FET?
Technical indicators are as dull as a politician’s promise. The Stochastic RSI flirts with the overbought zone like an indecisive flirt-no reversal in sight. FET remains poised for another tumble, vulnerable and emotionally unavailable.
The broader AI token basket has cooled faster than a cucumber at a funeral. Investor enthusiasm? Buried with October’s dreams. 🪦🍂 Unless buyer passion returns with a scandalous vengeance, FET may test $0.20-the last respectable address on its crumbling social register-before seeking therapy.
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2025-11-04 07:08