FET has pulled back on the charts after another failed attempt to clear its resistance level.
The Artificial Superintelligence Alliance [FET] token recorded a 9.3% correction over the last 24 hours. This, after the altcoin challenged the $0.31-resistance zone. A week ago, the bulls faced rejection from this resistance, and the outcome was the same on the second try in January.
The trading volume during this attempted breakout was only half of what it had been last week – A sign that buying pressure had weakened. Is this an early indication that traders should expect a bearish reversal, or will bulls attempt to make a breakout past $0.31 again and succeed?
Does the longer-term outlook favor FET bulls?
The long-term trend has been bearish for most of the past year. In February, the $0.71 swing low from August 2024 was ceded to the bears. The subsequent rally to $1 in May was only a relief rally and not a recovery.
October’s price action saw a new swing low at $0.194. The CMF signaled extreme selling pressure from October to the end of December 2025. Over the past few days, it began to push higher into neutral territory.
The Awesome Oscillator was on the verge of a bullish crossover, which would signal a bullish momentum shift. Overall, the trend and long-term structure remained bearish. The internal structure on the 3-day timeframe would flip bullishly if $0.46 is breached.
Can FET make short-term gains?
Over the past week, FET has formed a range between $0.269 and $0.315. The momentum was back in favor of the bears in the short term, and the CMF fell below +0.05 in recent hours and was trying to climb higher again.
While there may be bullish potential, traders must still remain flexible.
Traders’ call to action – Trade the range
The $0.269-$0.315 range offers ample short-term trading opportunities. A sweep of the range lows may be possible, given the liquidation levels clustered around $0.265. Such a price dip would offer a buying opportunity, with invalidation being a drop below $0.254.
Given the longer-term trend, a breakdown below $0.26 should warn traders to assume a bearish outlook.
Final Thoughts
- The Artificial Superintelligence Alliance token made strong gains at the start of the year, but its momentum has faltered over the past week.
- Short-term range formation around the $0.3-zone might offer trading opportunities.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
