FET Faces Key Resistance at $0.7291 as Bearish Fractal Pattern Reemerges

The cryptocurrency market has seen a recent pullback in major assets, with Ethereum (ETH) reaching $4,331 before retreating to approximately $4,185. This shift has had a ripple effect on several altcoins, including FET, which has experienced a notable 10% weekly gain before turning negative in recent trading [1]. The price movement of FET has drawn attention due to its resemblance to a familiar technical pattern observed earlier in the year, raising questions about its potential trajectory.

On the daily chart, FET is currently trading within a descending channel, a structure historically associated with long-term bullish potential but signaling short-term caution at present [2]. A bearish ABCD fractal pattern has re-emerged, similar to one seen in mid-June when FET was rejected at the "C" point and subsequently dropped 33% toward the Potential Reversal Zone (PRZ) and lower channel support around $0.55 [3]. This pattern is now repeating, with FET showing signs of rejection at the C point of $0.7291 and trading below its 25-day moving average, hovering just above the 50-day MA at $0.6985 [4].

If the fractal pattern holds, a decisive breakdown below the 50-day moving average could trigger another correction, potentially driving FET toward the PRZ and lower channel support near $0.4447—a level representing a 36% drop from current levels [5]. However, a strong reclaim and sustained movement above $0.7291 would invalidate the bearish setup and potentially open the door for a renewed bullish phase [6].

Analysts and investors are closely monitoring FET’s performance against broader market conditions and other digital assets. While the recent rally reflects strong retail-driven momentum similar to past trends, there are no guarantees that history will repeat itself. The current market environment, including macroeconomic factors and overall investor sentiment, will play a crucial role in shaping FET’s next move [7].

The recent price action has also sparked debate about the influence of new market participants. Although there is no direct evidence of large-scale institutional involvement, the pattern aligns with typical behavior when retail and institutional demand converge. This has led to speculation about whether the rally is a short-term speculative play or the beginning of a more fundamental shift in digital asset sentiment [8].

The situation remains fluid, with traders and analysts divided on whether to hold positions for further gains or secure profits ahead of potential consolidation. The market continues to test key resistance and support levels, with outcomes dependent on follow-through buying and broader macroeconomic trends [9].

Sources:

[1] [https://coinmarketcap.com/community/articles/6898823b4aa6a72cbd7c7483/](https://coinmarketcap.com/community/articles/6898823b4aa6a72cbd7c7483/)

[2] [https://genomicsworkshop.isr.umich.edu/wp-content/uploads/ninja-forms/tmp/nftmp-F2hcZ-miymoglowkittysecondaryecv7iju.pdf](https://genomicsworkshop.isr.umich.edu/wp-content/uploads/ninja-forms/tmp/nftmp-F2hcZ-miymoglowkittysecondaryecv7iju.pdf)

[3] [https://www.kcci.com/article/iowa-weather-flash-flood-watch-threat-increases-this-weekend/65640885](https://www.kcci.com/article/iowa-weather-flash-flood-watch-threat-increases-this-weekend/65640885)

[4] [https://majorleaguefishing.com/series/top-10-baits-and-patterns-from-the-st-lawrence-river/](https://majorleaguefishing.com/series/top-10-baits-and-patterns-from-the-st-lawrence-river/)

[5] [https://www.umass.edu/agriculture-food-environment/landscape/landscape-message-august-8-2025](https://www.umass.edu/agriculture-food-environment/landscape/landscape-message-august-8-2025)