FET Token Rebounds 50% After Market Selloff, Smart Money Accumulation

FET, the native token of the Artificial Superintelligence Alliance, experienced a significant decline during the recent market-wide selloff, dropping to $0.34. However, it has since rebounded nearly 50%, indicating strong dip demand. This rebound is supported by on-chain data, which shows over 1 million FET tokens were accumulated across the spot market in the last 72 hours, suggesting stealth accumulation and potential smart money deployment.

Market makers are now eyeing $0.34 as a structural support level, potentially front-running a broader leg up. If inflows persist, FET could set the stage for a breakout reversion toward the $1 macro resistance, which was last breached in late January before distribution set in. The weekly growth of AI tokens, including FET, highlights a strong capital influx, with FET outpacing large-cap assets with a 47% rally to $0.54 on the 13th of April. Prior to this breakout, its price action was range-bound in a multi-week accumulation zone, a textbook setup for volatility expansion.

On-chain outflows and CEX data validate the move, with accumulation trends signaling smart money front-running the breakout. As capital continues to rotate into AI majors, speculation is mounting around a potential all-time high retest by the end of Q2. With FET now ranked among the weekly top gainers, spot demand climbing, and technicals aligning for a range breakout, $0.34 may now be established as a structural launchpad.

However, FET’s undervaluation is reflected in its MVRV Z-score, which is currently at a two-year low of -1.50, indicating oversold conditions and potential accumulation zones. The $1.12 level aligns with the prior green-band interaction, suggesting a potential local bottom. However, FET’s Net Unrealized Profit/Loss (NUPL) has remained entrenched in the red since the 5th of January, when price action was at $1.60. This correlates with a 70% Fibonacci retracement from the January high, bringing the asset to its current market price of $0.50, which points to an extended phase of market capitulation.

This correlation shows institutional and smart money capital has largely stayed on the sidelines, unable to absorb the sell-side pressure, which prevented $1.12 from serving as a confirmed support zone. The NUPL, still deeply negative, alongside a positive SOPR, suggests profit-taking is still active, showing the market hasn’t reached selling exhaustion. In short, sell-side liquidity remains high. While early signs of smart money accumulation are emerging, net flows remain insufficient to absorb the overhead supply. This puts $0.34 at risk of failing as structural support, mirroring the breakdown at $1.12.