The Artificial Superintelligence Alliance (FET) token is showing signs of recovery after a week of losses. In the past 24 hours, the token recorded a 2.07% gain, sparking speculation of a potential significant price movement.
Signals of Potential Growth
Analysts point to historical patterns and technical indicators as possible signals for a more significant price movement in the near term.
Chart Patterns on FET/USDT
On the FET/USDT weekly chart, analyst Clifton Fx identified two descending broadening wedges. These patterns, which display lower highs and lower lows with increasing price ranges, often precede bullish reversals.
Price Movement Opportunities
If history repeats, a breakout above the current resistance trendline could spark a strong upward move. The analyst identified a potential target of $3.00, aligning with a key resistance level seen earlier this year. Recent consolidation within the wedge also points to an accumulation phase. Such phases often occur before high-momentum breakouts.
FET may be on the brink of significant growth if current technical signals are confirmed.
