FET Stalls at $0.90—Is a 7% Correction Inevitable?

FET’s price action hits a wall at $0.90—traders eyeing the charts for signs of a breakdown. Could a 7% slide be next?

Technical indicators flash mixed signals as bulls and wrestle for control. Meanwhile, the ’smart money’ pretends they saw it coming all along.

Volatility ahead? Buckle up—or just enjoy the show while Wall Street overcomplicates things, as usual.

The implications of range and liquidity for FET traders

Source: FET/USDT on TradingView

On the 12-hour chart, FET has a bullish outlook. It has made higher highs and higher lows since mid-April. Correspondingly, the OBV has also trended higher. Therefore, the rally was supported by increased demand.

The RSI has remained above neutral 50 for the most part, reflecting the bullish momentum of the AI token in recent weeks.

The drop in RSI in recent days was a result of the multiple rejections FET saw at the $0.9 threshold.

Source: FET/USDT on TradingView

The 4-hour chart showed that this resistance was not yet overcome. A range formation between $0.805 and $0.94 had developed. The selling pressure while FET traded within this range was not high, as seen on the OBV.

The RSI has meandered around neutral 50, a sign of a lack of firm momentum. This came from the short-term range formation.

Source: Coinglass

The liquidation heatmap showed a buildup of liquidation levels just below the $0.8 level, the lows of the current range. A small patch of liquidity was present at $0.89, and could be hunted in the short term.

A move southward appeared likely, especially in the case of a Bitcoin [BTC] drop from the $109k-$110k region. Hence, traders should be on the lookout for a retest of the $0.8 support zone.

Meanwhile, a MOVE to $1 was also possible. It was unlikely, but a surge in volume could warn traders of a move to $1.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion