The Artificial Superintelligence Alliance (FET) token has faced a challenging day, primarily due to a significant long liquidation event. This liquidation, amounting to $1,799.80 at a price of $1.33814, has triggered a cascade of sell-offs, intensifying bearish pressure on the market. Traders who were betting on a price rise are now facing substantial losses, leading to a reevaluation of positions and contributing to the token's downward momentum. The market sentiment has turned bearish, with the forced selling likely to drive prices even lower.
Adding to the downward pressure, the FET token has been struggling to break through key resistance and support levels. For the past three days, the price has been stuck in a range, unable to decisively move above $1.3750 or below $1.2630. This lack of significant movement has left traders on edge, waiting for a breakout or breakdown to provide clearer market direction. The recent liquidation event has only added to the uncertainty, with traders remaining cautious and vigilant for further volatility.
The FET token is currently priced at $1.262170, reflecting a 2.85% decrease today. The token reached a high of $1.335865 and a low of $1.262170 during the day.