Superintelligence Alliance [FET] gained 11.24% to reach $0.2012, driven by increased spot trading activity as the token approached the $0.2100 supply zone. The price recovery marked progress from August lows, with FET reclaiming several previously contested levels after breaking through the $0.1742 resistance.
Spot trading volume jumped 35.69% over 24 hours during the rally, indicating stronger market participation. However, market conditions remain mixed as the token faces competing pressures at this critical juncture.
Exchange Supply Creates Selling Pressure
Exchange reserves for FET increased 14.01% to approximately $41.7 million during the rally period, according to CryptoQuant data. The rise in exchange holdings means more tokens are immediately available on trading platforms, creating potential selling pressure as the price approaches the overhead supply zone. While the reserve increase alone does not confirm that holders are selling, the combination with proximity to the supply zone heightens this risk.
Leveraged Traders Favor the Upside
Derivatives positioning shows pronounced bullish sentiment among top traders. According to CoinGlass, Binance's top traders maintained 72.89% long accounts compared to 27.11% short accounts, producing a Long/Short Ratio of 2.69. The OI-Weighted Funding Rate rose to 0.0166%, a positive level indicating long-position holders are paying shorts, suggesting confidence in further price appreciation.
However, this crowded long positioning creates vulnerability. A sharp price rejection around the supply zone could pressure leveraged longs and amplify volatility as traders unwind positions.
Technical Indicators Show Mixed Signals
The MACD indicator strengthened during the approach to the $0.2100 zone rather than weakening. The MACD line remained above its signal line with expanding green histogram bars, suggesting bullish pressure persists. However, price has not yet confirmed a breakout, with sellers still positioned around the $0.2100 supply region.
A decisive daily close above $0.2100 could clear the path toward the next resistance at $0.2538. Failure to break through this zone could instead drive FET back toward the $0.1742 support level.
