The situation in the Fetch.ai market and the entire Artificial Superintelligence Alliance is tense due to the breach of key technical levels, raising concerns among traders.
Break of Key Levels in Artificial Superintelligence Alliance
On the daily timeframe chart, the Artificial Superintelligence Alliance shows a confirmed bearish structure. The symmetrical triangle formed since March broke to the downside near the $0.66 level, creating a critical shift as this invalidated the ascending support line. Fibonacci levels drawn from $1.23 to $0.17 indicate the price has slipped below the 0.5 level at $0.66161. Based on the triangle's width, the price may target around $0.34647, corresponding to the 1.0 Fibonacci retracement.
Current Market Metrics and Indicators
On the 5-minute chart, Fetch.ai is trading around $0.633 with a volume of 40.52K. A slight recovery followed a sharp decline to $0.602, indicating short-term accumulation. However, resistance near $0.660 continues to hold. Technical indicators are showing mixed responses: RSI at 57.99 is in the moderate bullish zone and not overshot, while the MACD approaches convergence, suggesting possible consolidation.
Technical Signals and Short-Term Strategies
Signals from a tweet by RaaFi indicate a short signal with an entry range of $0.632–$0.641 and a target of $0.625. If the price fails to hold in this zone, a retest of the $0.625–$0.615 support band may occur. A break below $0.625 could open the path toward support levels at $0.56683 and $0.45291, while a break above $0.641 would change the short-term outlook.
Overall, the Fetch.ai market remains under pressure and may continue to move downward. The breakdown level of $0.39 is a key zone to watch in the near future.