FET price faces key levels as trend weakens, now at $1,28
Artificial Superintelligence Alliance (FET) is currently trading at $1.28
Artificial Superintelligence Alliance (FET) is currently trading at $1.28, having broken below the floor of its rising trend channel in the medium to long term.
This suggests a reduced initial rate of ascent and signals potential bearish momentum. While FET previously showed bullish potential with an inverse head and shoulders formation, the price has reacted back without reaching the target at $2.38, indicating hesitation among buyers.
Key support is identified at $1.14, which could act as a safety net in the event of further declines. On the upside, resistance is located at $1.74. A decisive breakout above $1.35 would provide a positive signal, potentially reinvigorating bullish sentiment and opening the door to higher levels.
FET price dynamics (December 2023-December 2024). Source: TradingView.
RSI analysis places FET in a neutral zone, suggesting balanced buying and selling pressure. However, if RSI dips below 40, bearish momentum could strengthen. Conversely, a move above 60 would reinforce bullish recovery prospects.
Fibonacci analysis highlights $1.14 as a critical retracement level, aligning with the support zone. A break below this level could signal further downside toward $1.00.
Volume trends correspond well with price movements, reducing the strength of the trend break but emphasizing the need for confirmation of the next move. Traders should watch $1.35 for bullish validation or $1.14 for a potential bearish breakdown.
Recently, the cryptocurrency exchange OKX has listed two AI-related tokens, Fetch.ai (FET) and SingularityNET (AGIX), on its spot trading platform. The assets became available for trading on November 24.
