Artificial Superintelligence Alliance’s token-FET has been on a buying spree after testing a broken resistance line as support. Making a slight trend shift, it appears bullish and seems ready to flip a weekly high.
Since bouncing off a yearly low in the first week of this month, FET has continued to gain traction and is now showing signs of strength daily.
This came after finally flipping a crucial resistance line, which has been suppressing buying pressure since late 2024. It ended last week’s trading with a sharp rejection and pulled back into the broken resistance line.
Retesting the resistance line as support in the mid-week, it bounced back and increased consistently to where it sits at around $0.57 – a resistance level. This resistance may appear minor on the daily timeframe, but it is considered a key level for the next buying phase for the intraday traders.
Failure to overcome the key resistance level could slow down buying for a while before flipping it. Otherwise, the bears may step back into action. While the market structure appears slightly shifted to the upside, we may see a mini-recovery in the short term as it now turns bullish.
FET Key Level To Watch
A breakthrough the minor resistance level of $0.585 could send the price to the $0.661 and $0.8442 levels in a recovery mode. It may even retest the $1 level in the process if demand continues to increase.
In case of a pullback, the $0.5 level is the close support to watch for a retest. Failure to bounce back could bring us back to the weekly $0.443 support. Right below it lies the monthly holding support of $0.345 with a potential dip to $0.3.
Key Resistance Levels: $0.661, $0.842, $1
Key Support Levels: $0.443, $0.345, $0.3
- Spot Price: $0.572
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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