FET trades near $0.614 and faces tough resistance at $0.63 while buyers prepare for a $0.57 test.
Fibonacci zones between $0.71 and $0.52 mark critical areas as bears push price toward deeper levels.
Analysts warn that $0.57 must hold as the last strong defense against a sharp slide toward $0.55.
Fetch.ai’s native token, FET, remains locked in a firm downtrend. Market analyst Ali warned that a rejection near $0.63 could push the token back toward $0.57, a level seen as critical support by traders. The four-hour chart reflects mounting pressure as price action continues to slide within a descending parallel channel.
Persistent Downtrend in FET
The latest data shows FET trading near $0.614, marking a modest daily decline of 0.58%. Price briefly tested $0.62 but failed to gain momentum, reflecting strong overhead resistance. The descending channel, highlighted on the TradingView chart, has defined market behavior for weeks.
Multiple rejection points across the channel illustrate weakening demand from buyers. Each attempt to break the upper trendline has been met with increased selling. Fibonacci retracement levels between $0.71 and $0.52 outline key battlegrounds for bulls and bears.
Notably, the token is currently oscillating near the 0.786 Fibonacci level at $0.617, which often acts as a pivot. A sustained failure to reclaim higher zones such as $0.64 or $0.68 could solidify downside pressure. If $0.57 fails, traders may watch for further tests closer to $0.55.
Chart Signals and Technical Setups
Ali’s analysis points to the persistent bearish sentiment. The chart shows candles trapped within the parallel channel stretching from late August to early September. Short-term relief rallies have struggled to close above channel midpoints.
The visible structure highlights a clear rejection cluster forming around the $0.63–$0.64 region. This barrier is reinforced by Fibonacci alignment at the 0.786 zone. In technical setups, such rejections often trigger acceleration toward lower support zones.
Historical activity since mid-August reveals consecutive lower highs and lower lows. The pattern is a hallmark of a classic downtrend structure. Traders looking for confirmation of reversal must watch for a breakout above $0.68 with strong volume. Without such confirmation, the prevailing bias remains bearish.
Can $0.57 Support Hold?
The critical question for traders is whether $0.57 can act as a durable support in the coming sessions. Price memory suggests that this level attracted significant demand in previous sell-offs. If FET stabilizes there, it could provide a base for short-term rebounds.
Failure to hold $0.57 could expose the token to deeper declines, possibly testing levels near $0.55. With sentiment leaning bearish, downside liquidity may continue to build below these zones. For now, the market remains wary of any recovery signals unless resistance at $0.63 is decisively broken.
On the other hand, reclaiming higher retracement levels such as $0.64 or $0.68 would shift market tone. This could invite stronger participation from sidelined buyers. However, momentum indicators suggest limited bullish conviction at present.
Whether FET can maintain footing above $0.57 will define short-term trajectory. Can buyers absorb ongoing sell pressure, or will bears force another leg down?
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FET Price Rejection Near $0.63 Raises Risk of Drop Toward $0.57
FET trades near $0.614 and faces tough resistance at $0.63 while buyers prepare for a $0.57 test.
Fibonacci zones between $0.71 and $0.52 mark critical areas as bears push price toward deeper levels.
Analysts warn that $0.57 must hold as the last strong defense against a sharp slide toward $0.55.
Fetch.ai’s native token, FET, remains locked in a firm downtrend. Market analyst Ali warned that a rejection near $0.63 could push the token back toward $0.57, a level seen as critical support by traders. The four-hour chart reflects mounting pressure as price action continues to slide within a descending parallel channel.
Persistent Downtrend in FET
The latest data shows FET trading near $0.614, marking a modest daily decline of 0.58%. Price briefly tested $0.62 but failed to gain momentum, reflecting strong overhead resistance. The descending channel, highlighted on the TradingView chart, has defined market behavior for weeks.
Multiple rejection points across the channel illustrate weakening demand from buyers. Each attempt to break the upper trendline has been met with increased selling. Fibonacci retracement levels between $0.71 and $0.52 outline key battlegrounds for bulls and bears.
Notably, the token is currently oscillating near the 0.786 Fibonacci level at $0.617, which often acts as a pivot. A sustained failure to reclaim higher zones such as $0.64 or $0.68 could solidify downside pressure. If $0.57 fails, traders may watch for further tests closer to $0.55.
Chart Signals and Technical Setups
Ali’s analysis points to the persistent bearish sentiment. The chart shows candles trapped within the parallel channel stretching from late August to early September. Short-term relief rallies have struggled to close above channel midpoints.
The visible structure highlights a clear rejection cluster forming around the $0.63–$0.64 region. This barrier is reinforced by Fibonacci alignment at the 0.786 zone. In technical setups, such rejections often trigger acceleration toward lower support zones.
Historical activity since mid-August reveals consecutive lower highs and lower lows. The pattern is a hallmark of a classic downtrend structure. Traders looking for confirmation of reversal must watch for a breakout above $0.68 with strong volume. Without such confirmation, the prevailing bias remains bearish.
Can $0.57 Support Hold?
The critical question for traders is whether $0.57 can act as a durable support in the coming sessions. Price memory suggests that this level attracted significant demand in previous sell-offs. If FET stabilizes there, it could provide a base for short-term rebounds.
Failure to hold $0.57 could expose the token to deeper declines, possibly testing levels near $0.55. With sentiment leaning bearish, downside liquidity may continue to build below these zones. For now, the market remains wary of any recovery signals unless resistance at $0.63 is decisively broken.
On the other hand, reclaiming higher retracement levels such as $0.64 or $0.68 would shift market tone. This could invite stronger participation from sidelined buyers. However, momentum indicators suggest limited bullish conviction at present.
Whether FET can maintain footing above $0.57 will define short-term trajectory. Can buyers absorb ongoing sell pressure, or will bears force another leg down?