$FET targets $0.22 after 10% rally – So why are traders still cautious?⚠️👀
#FET FET’s liquidation heatmap shows balanced clusters. However, a narrow loss gap keeps reversal risk credible despite the rally.
Artificial Superintelligence Alliance [FET] is currently benefiting from a rally linked to the broader artificial intelligence token narrative. The asset posted a 10% gain at press time, as chart projections point to another double-digit move to the upside.
Despite this, there is a high probability that the rally may not fully materialize, as opposing forces point to weakening buyer strength in the FET market.
FET forms a bullish flag pattern
At the time of writing, FET was trading within a classic bullish flag pattern, a formation that has historically preceded significant price swings to the upside. The pattern forms when an asset undergoes a massive expansion in price, then consolidates within a slightly downward-trending channel before making another major upswing.
FET has already passed through two phases of this pattern, completing the initial expansion and currently consolidating within the downward channel.
The third and final phase would see FET break above the upper resistance of the downward channel, with two price targets ahead: $0.22 and $0.24.
Whether this expansion materializes, however, depends heavily on whether momentum and capital conditions align to support the breakout.
Final Summary
🔸FET is consolidating within a bullish flag pattern, targeting $0.22 and $0.24.
🔸Long liquidations at $45,740 outpace short losses of $33,490, suggesting the rally has yet to fully offset downside risk.