- FET has a bullish structure on the higher timetables.
- The short -term range could see a price dip up to $ 0.81 or so deep than $ 0.76.
Artificial Superintelligence Alliance [FET] Was unable to climb past the $ 0.9- $ 1 resistance zone. In a recent report, Ambcrypto emphasized the importance of the support level of $ 0.75.
In the past few days, a different support level has emerged at $ 0.81 as an important level in the short term.
The potential for range was also noticed. A range had been formed and the next expectation of the liquidity to be built was underway. Traders can expect increased volatility for the AI token in the coming days.
The implications of reach and liquidity for FET traders
Source: FET/USDT on TradingView
FET has a bullish prospect on the 12 -hour graph. It has made higher highlights and higher lows since mid -April. The OBV is also higher. That is why the rally was supported by an increased demand.
The RSI has largely remained above the neutral 50, which reflects the bullish momentum of the AI token in recent weeks.
The decrease in the RSI in recent days was the result of the several rejections that FET saw with the threshold of $ 0.9.
Source: FET/USDT on TradingView
The 4-hour graph showed that this resistance had not yet been overcome. A range between $ 0.805 and $ 0.94 was developed. The sales pressure while FET was traded within this reach was not high, as can be seen on the OBV.
The RSI has come around Neutral 50, a sign of a lack of sturdy momentum. This came from the formation of the short -term range.
Source: Coinglass
The liquidation heat showed an accumulation of liquidation levels just below the level of $ 0.8, the lows of the current reach. A small piece of liquidity was present at $ 0.89 and could be hunted in the short term.
A movement to the south probably seemed, especially in the case of a bitcoin [BTC] Drop of the $ 109k $ 110k region. That is why traders must be looking for a retest of the $ 0.8 support zone.
In the meantime, a step to $ 1 was also possible. It was unlikely, but an increase in volume could warn traders about a move to $ 1.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
