Artificial Superintelligence Alliance [FET] extended its broader decline as the token shed 5.82% in the last 24 hours to $0.125 as selling pressure intensified. Later on, the price broke below $0.1311, a level that had repeatedly supported FET, before slipping toward $0.124 on stronger selling volume.
The weakness also reflects a broader repricing of AI-linked tokens after earlier speculative demand pushed the sector higher. Although FET continues to develop its ecosystem, investors increasingly require stronger evidence of adoption before assigning previous valuations.
This shift provides additional fundamental bearishness to FET’s weak technical structure. Meanwhile, at press time, the four-hour RSI sat at 21.23, indicating extreme selling pressure. The MACD was also negative and confirmed the downtrend.
However, oversold readings measure selling intensity rather than confirm a bottom. If the price moves above $0.1311, it indicates that buying activity has resumed. Conversely, if the price does not move above that area, it could be considered resistance.
FET sees heavy Binance inflows
FET’s declining price has not been matched by a comparable rise in tokens moving onto Binance, adding another layer to the sell-off. Instead, FET sits at the extreme end of negative altcoin netflows, meaning withdrawals exceeded deposits during the measured period.
This contrasts with assets such as QGN, GMX, and CHZ that showed some of the largest positive netflows. Importantly, this metric only captures token movements and does not determine whether users are building their balance to accumulate or prepare for future activities.
Source: https://ambcrypto.com/fet-falls-below-0-13-as-selling-intensifies-can-bulls-regain-control/
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