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- FET price fell 5.82% and broke below the key $0.1311 support level.
- The four-hour RSI dropped to 21.23 while Binance FET reserves declined about 20% over 90 days.
- Falling open interest suggests leverage is leaving the market, but FET has yet to see a major derivatives flush.
Artificial Superintelligence Alliance (FET) extended its recent decline on heavier selling, with the token falling 5.82% in 24 hours to around $0.125. The drop pushed FET below the $0.1311 support level, raising concerns that the AI-linked cryptocurrency could face further downside unless buyers quickly reclaim the broken level.
The latest weakness comes as the broader AI-token narrative cools from earlier speculative gains. While FET continues to build its ecosystem, the market appears increasingly focused on evidence of real adoption rather than expectations alone.
FET Technical Indicators Point to Heavy Selling
FET’s break below $0.1311 marked a significant deterioration in its short-term structure. After repeatedly finding support around that area, the token slipped toward $0.124 as selling volume increased.
Momentum indicators reinforce the bearish picture. The four-hour Relative Strength Index stood at 21.23, placing FET firmly in oversold territory. The MACD was also negative, confirming that downward momentum remained dominant.
Still, an oversold RSI does not guarantee an immediate rebound. Instead, it shows that selling has become intense. A recovery above $0.1311 would provide the first sign that buyers are regaining control. If FET remains below that threshold, the former support could instead become resistance.
Binance Data Shows Reduced Exchange Reserves
Exchange-flow data provides another important part of the picture. FET recorded strongly negative netflows on Binance during the measured period, meaning withdrawals exceeded deposits.
At the same time, Binance’s FET reserves declined by roughly 20% over 90 days. That suggests fewer tokens are sitting on the exchange and immediately available for trading, although exchange-flow data alone cannot determine whether withdrawals represent accumulation, transfers, or other activity.
FET’s 24-hour trading volume climbed 23.12%, rising from $109.1 million to $134.84 million even as the price declined. The combination points to elevated market activity during the sell-off.
FET Derivatives Market Loses Leverage
The derivatives market also showed signs of cooling. Open interest fell from approximately $79.7 million to $74 million as traders reduced leveraged exposure.
Long positions accounted for nearly all of the $639,370 in liquidations recorded over 24 hours. However, those liquidations represented less than 1% of total open interest, suggesting the decline has not yet produced a major derivatives washout.
FET now faces a key test around $0.1311. Reclaiming that level could signal renewed buying interest, while continued rejection below it would leave the bearish trend intact.
Also Read: Fetch.ai (FET) Surges 51% Amid Ocean Protocol Lawsuit
For now, extreme oversold conditions offer the possibility of a short-term bounce, but stronger confirmation would likely require improving price structure, sustained demand and clearer evidence of ecosystem adoption.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
