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Don’t Forget to Meet the ASI Merge Migration Deadline

Don’t Miss the ASI Merge Migration Deadline

FET token holders using decentralized Ethereum wallets are facing a critical deadline to join the ASI Merge Migration Queue. Failure to participate could result in liquidation, causing a surge in trading activity and price volatility for Fetch.ai’s token.

Fetch.ai has emphasized the approaching deadline on its official channels, urging holders to take action before Monday to avoid liquidation. This sense of urgency has sparked a flurry of activity in the FET market, leading to notable price fluctuations and increased trading volumes.

Currently, FET is trading at $1.20, seeing a slight uptick of 0.42% over the last 24 hours. The surge in trading volume, up by 38.58% to $162,448,947, indicates heightened market activity. Market capitalization has also risen by 0.42%, reaching $3,024,743,486, signaling positive market sentiment.

In a recent price analysis, FET hit a high of around $1.1964 before experiencing a significant decline. However, strong support was observed around $1.05, with the price quickly rebounding. The current price of $1.20 surpasses the previous resistance level of $1.1964, hinting at a new support level and potential bullish momentum.

Key support for FET is at $1.05, with immediate resistance near $1.1964. Given the current trading price of $1.20, a breakout seems possible, with potential new support levels at this range. If the bullish trend persists, future resistance levels could be seen at psychological barriers like $1.25 and $1.30.

Data from Coinglass reveals a 24.73% increase in trading volume for FET derivatives, totaling $143.06 million, while open interest dropped by 3.38% to $31.67 million. The long/short ratio currently stands at 0.9294, indicating a slight dominance of short positions.

Despite a bullish long/short ratio of 2.6258 and strong sentiment among top traders, long positions have faced considerable liquidations. In the past 24 hours, $316,860 was liquidated, with $289,210 coming from long positions.

Please note that the information provided is for educational purposes only and should not be considered financial advice. Coin Edition does not take responsibility for any losses resulting from actions taken based on the content mentioned. Readers are advised to proceed with caution and conduct their own research before making any investment decisions.