The Artificial Superintelligence Alliance (FET) is back on traders’ radars as volatility decreases and market dynamics shift.
Current Situation of FET
Since mid-May, FET has been in a downtrend despite holding firmly around $0.63-$0.65. A brief dip below this support was seen in late June, but the price quickly bounced back, indicating possible underlying strength.
Technical Analysis of FET
On the 4-hour chart, FET is testing the resistance near $0.70. A breakout above $0.70-$0.72 could trigger a price rally to the $0.98-$1.00 level. Volume has remained moderate during consolidation, and an increase in buying activity will be needed to sustain momentum.
Analyst Opinions on FET's Future
Crypto analyst Iko pointed out that FET's volatility has hit its lowest point in months, suggesting that the current calm could indicate building pressure. Analyst World Of Charts also highlighted that the price is 'holding a key area', and a break above current resistance may unlock a 50% rally.
With the current conditions and decreasing volatility, FET is at a critical decision point. A price breakout is anticipated in the near future, potentially leading to significant upward movement.
