FET Faces Resistance at $0.9 Level, Support at $0.75 Crucial

FET, the token associated with the Artificial Superintelligence Alliance, has encountered resistance at the $0.9-$1 level, failing to surpass this threshold. This resistance zone has proven to be a significant barrier, preventing the token from achieving higher prices. The importance of the $0.75 support level has been emphasized, indicating that this level is crucial for maintaining the token's value.

In the short term, FET has identified $0.81 as a key support level. This level has emerged as a critical point for traders to monitor, as it could determine the token's immediate price movements. The potential for a range formation has also been noted, with a range developing between $0.805 and $0.94. This range formation suggests that the token may experience heightened volatility in the coming days, as traders react to price movements within this range.

On the 12-hour chart, FET exhibits a bullish outlook, with higher highs and higher lows since mid-April. The On-Balance Volume (OBV) has also trended higher, indicating increased demand for the token. The Relative Strength Index (RSI) has remained above the neutral 50 level for most of the time, reflecting the bullish momentum of the token in recent weeks. However, the recent drop in RSI is attributed to multiple rejections at the $0.9 threshold, highlighting the resistance faced by the token.

The 4-hour chart shows that the resistance at $0.9 has not yet been overcome. The selling pressure within the $0.805-$0.94 range is not high, as seen on the OBV. The RSI has meandered around the neutral 50 level, indicating a lack of firm momentum due to the short-term range formation.

The liquidation heatmap reveals a buildup of liquidation levels just below the $0.8 level, which is the low of the current range. A small patch of liquidity is present at $0.89, which could be targeted in the short term. A move southward appears likely, especially if Bitcoin drops from the $109k-$110k region. Traders should be prepared for a retest of the $0.8 support zone.

While a move to $1 is possible, it is considered unlikely. However, a surge in volume could serve as a warning for traders, indicating a potential move to $1. Traders should remain vigilant and monitor the token's price movements closely, as the market dynamics for FET are subject to change.