AI-related token FET has rebounded significantly in the past 24 hours, with its price surging as much as 15.97% as buying interest in the artificial intelligence sector picked up. Trading volume increased by 42.16% during the same period, reaching approximately $345 million, indicating that this upward movement was not driven by low liquidity.
Capital participation rebounded in tandem
In addition to active spot trading, the derivatives market is also heating up. Data shows that open interest in FET contracts increased by 18.55% to $125.63 million, indicating that new positions entered the market during the rise, rather than just a short-term surge driven by short covering.
A simultaneous increase in both trading volume and open interest typically indicates that traders are positioning themselves for upcoming volatility. However, this also suggests increased leverage, which could amplify volatility once prices approach key resistance levels.
- 24-hour increase: 15.97%
- Trading volume: Approximately US$345 million
- Open interest: $125.63 million
The $0.244 support level has been re-established.
From a price structure perspective, after FET regained support at $0.244, it began to advance towards the $0.30 area. Daily charts show that buyers consistently held higher lows in May, subsequently pushing the price out of the previous consolidation range.
As of the time of observation, FET was trading at approximately $0.268, remaining between the lower support level and the upper supply zone. Previous rallies have encountered resistance near $0.30, making this level a key short-term focus.
The Relative Strength Index (RSI) rose to 66.05, above its neutral level, indicating increased buying pressure. At the same time, the indicator has not yet entered a clearly overheated zone, meaning that if funds continue to flow in, prices still have room to rise further.
Binance's large long positions account for over 70%
In terms of trading sentiment, Binance's top traders are clearly bullish. Data shows that over 70% of accounts remain long, while only 29.61% maintain a short position, resulting in a long-short ratio of 2.38.
This structure reflects the market's strong expectation of a continued rebound, but the overly concentrated long positions also increase the risk of a pullback. If buying pressure fails to push prices higher, the crowded long positions could lead to a faster short-term decline.
Overall, the recent rebound in FET prices has been supported by trading volume, open interest, RSI, and bullish sentiment. Going forward, $0.30 remains a key level to determine whether the upward trend can continue; a break above this level would likely lead the market to focus on the resistance around $0.40.
