Artificial Superintelligence Alliance [FET] has fallen over 8% and was trading near $0.229 at press time, a level that appears to be a make-or-break point for the asset. Moreover, strengthening derivatives’ metrics alongside expert commentary further reinforces and potentially confirms that FET could continue its downside move.
As the broader market struggles, CoinGlass data show intraday traders closely tracking the trend and betting on further declines.
According to the FET exchange liquidation map, traders have shown strong interest around $0.224 on the downside and $0.238 on the upside. At these levels, they have built approximately $294K worth of long-leveraged positions and $794K worth of short-leveraged positions.
These bets indicate that bears are currently dominating the asset in the short term, while bulls appear to be exhausted.
In fact, a crypto analyst recently echoed a similar outlook on FET’s price. In a post on X, the analyst explained that the asset was retracing into a supply zone and showing clear signs of exhaustion. Moreover, FET appears positioned to grab liquidity before turning lower. For this potential decline, the expert outlined target levels, noting that FET could drop to $0.20 and $0.1737.
FET price action and key levels to watch
On the four-hour chart, FET appears bearish, as the token’s drop has brought the price to a make-or-break level, a level the asset has consistently held since the 26th of March 2026. In fact, the chart suggests that FET has formed a descending triangle pattern and is now poised for a breakdown.
Based on the current price action, if FET fails to hold its key support level of $0.2270 and closes a four-hour candle below it, the price could potentially decline by another 10%, reaching the $0.20 level in the coming days.
However, a reversal is also possible if the price remains above the $0.2270 level. An upside move would likely only begin if FET breaks out above the descending trendline of the pattern.
Alongside this, the technical indicator Average Directional Index (ADX) stood at 13.22, below the key threshold of 25, indicating weak directional momentum. This suggests that the asset may struggle before continuing its downward move.
Top 100 addresses increase holdings
Despite all these bearish developments over the past 24 hours, analytics tool Nansen indicates that FET’s long-term outlook remains bullish.
The data shows that the top 100 wallet addresses have increased their holdings by 2.04% over the past week, signaling potential accumulation. Meanwhile, Exchange Reserves have declined by 1.40% during the same period, further suggesting accumulation by long-term holders.
Final Summary
- FET has declined over 8%, and its price action hints at a potential 10% drop if it falls below the $0.2270 level.
- An expert has outlined a bearish outlook for the asset, eyeing downside targets of $0.20 and $0.1737.
Chandan Gupta
JournalistChandan Gupta is is a seasoned crypto analyst with over four years of experience in market research and trading. He specializes in simplifying complex on-chain data to uncover the strategies of crypto whales and major market participants. Alongside on-chain analysis, he breaks down price charts and liquidity movements to deliver clear, actionable insights.
