FET Price Consolidates Awaiting 50% Rally Breakout

The Artificial Superintelligence Alliance (FET) has regained the attention of traders as the market experiences a period of relative calm, which often precedes significant movements. The volatility of FET has decreased to levels not seen in several months, and the price action is consolidating within a tighter range. This setup is typically noted by traders as a potential precursor to a breakout.

Since mid-May, the FET price has been in a downtrend, forming lower highs. However, it has maintained support around the $0.63 to $0.65 zone. In late June, there was a brief dip below this support level, but the price quickly recovered, indicating underlying strength. Currently, on the 4-hour chart, FET is testing the resistance area near $0.70, a key zone that traders are closely watching. If the price can break above this level, it could signal a stronger upward move. The price is currently squeezed between support and resistance, a situation that often leads to sharp movements in either direction.

According to chart forecasts, a confirmed breakout above the $0.70 to $0.72 resistance level could initiate a rally targeting the $0.98 to $1.00 range. This would represent a 50% increase from current levels. Previous attempts to break through this resistance have failed, but buyers have continued to absorb pressure at higher lows. Support remains strong around $0.63, and a loss of this level would invalidate the bullish outlook. Volume has been moderate during this consolidation phase, and any breakout attempt will likely require increased buying participation to sustain momentum.

Crypto analysts have noted the significant drop in FET’s volatility, with some describing the price action as "tightened" and suggesting that the current calm indicates building pressure. This sentiment is shared by prominent analysts who point out that FET is holding a key area and that a break above current resistance could unlock a 50% rally. The market is now at a decision point, with the focus on whether bulls can penetrate the $0.70 to $0.72 resistance level. Until this happens, the price remains in range, but the anticipation for the next move is growing.