- Ah, the FET! A creature of bullish dreams, dancing on the higher timeframes like a hopeful poet.
- But beware! The short-term range whispers of a dip, perhaps to $0.81 or even as low as $0.76. Oh, the drama!
In the grand theater of the Artificial Superintelligence Alliance [FET], our hero falters, unable to breach the formidable $0.9-$1 resistance zone. A recent scroll from AMBCrypto, that wise oracle, has sung the praises of the $0.75 support level, a beacon in the storm.
Lo and behold! In the fleeting days, another support level at $0.81 has emerged, a key player in this short-term saga.
Ah, the potential for a range formation! A tale of liquidity awaits, as traders brace for the tempest of volatility that the AI token promises in the days to come. Buckle up, folks! 🎢
The implications of range and liquidity for FET traders
On the 12-hour chart, FET wears a bullish mask, flaunting higher highs and higher lows since mid-April. The OBV, that faithful companion, has also climbed higher, a testament to the rally’s support from eager demand.
The RSI, that fickle friend, has mostly lingered above the neutral 50, reflecting the bullish momentum of our AI token in recent weeks. But alas! A drop in RSI has emerged, a consequence of the many rejections FET faced at the $0.9 threshold. Oh, the heartbreak! 💔
The 4-hour chart reveals that this resistance remains unbroken. A range formation between $0.805 and $0.94 has taken shape, with selling pressure as light as a feather, as seen on the OBV.
The RSI, meandering around neutral 50, signals a lack of firm momentum, a reflection of the short-term range formation. How poetic! 🎭
The liquidation heatmap, a map of treachery, shows a buildup of liquidation levels just below the $0.8 level, the lows of our current range. A small patch of liquidity at $0.89 awaits, a tempting morsel for the daring.
A move southward seems likely, especially if our old friend Bitcoin [BTC] decides to drop from the $109k-$110k region. Traders, keep your eyes peeled for a retest of the $0.8 support zone! 👀
Yet, a move to $1 is not entirely out of the question. Unlikely, yes, but a surge in volume could send traders scrambling towards that elusive mark. What a twist! 🎉
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2025-05-27 10:19