FET plunges 18%: resistance at $0.30, bounce targets $0.25–0.26
Artificial Superintelligence Alliance (FET) is down nearly 18% in 24 hours after failing to sustain a rally toward the $0.30 psychological resistance. FET had gained about 50.94% from May 23 to June 1, moving from $0.1914 to $0.2889, but sellers defended the supply zone.
On the higher timeframe, the swing structure remains bearish despite the rally. After an early-2026 selloff printed a new swing low at $0.134, FET experienced a relief bounce to the 78.6% retracement level before rejecting and falling back toward the $0.195–$0.20 support area (respected since April).
On the 4-hour chart, momentum turned more bearish: price broke below the higher low at $0.2166, while A/D declined rapidly and the Awesome Oscillator fell to levels not seen since the October 2025 crash. The article suggests the impulse leg may not be over, but traders should watch for an oversold relief bounce.
Trading setup: consider “sell the bounce.” The expected bounce zone is $0.25–$0.26. Buying into the bounce is framed as risky if Bitcoin (BTC) drops—another BTC-led panic could pressure altcoins further. Core levels to watch for FET: resistance near $0.30, support at $0.195–$0.20, and bounce/sell zone at $0.25–$0.26.
Bearish
The article frames FET’s move as a bearish continuation rather than a full trend reversal. After a strong rally, FET failed at the $0.30 psychological resistance and returned to the $0.195–$0.20 support band. More importantly for traders, the 4-hour structure turned bearish when FET broke below the prior higher low ($0.2166), while momentum indicators (A/D and Awesome Oscillator) signaled strong downside pressure—similar to past “relief rally → rejection → sell pressure resumes” patterns seen during broader market weakness.
Impact on trading is likely short-term downside bias: volatility may stay elevated as sellers defend resistance and traders may position around the suggested $0.25–$0.26 relief-bounce zone for “sell the bounce.” In the medium term, if BTC triggers further risk-off (e.g., BTC breaks down toward major support), FET’s downside could extend and delay any sustained recovery. A sustained bullish shift would require FET to reclaim broken structure levels and hold above key resistance; without that, bounces look more like corrective moves than trend changes.