The price of Artificial Superintelligence Alliance (FET) has been under pressure today, primarily due to a broader market correction affecting AI-based tokens. Despite recent optimism surrounding AI projects, including the U.S. government's $500 billion Stargate initiative, the market is experiencing a pullback. This correction comes after a period of significant gains for AI tokens, which have been buoyed by increased interest in artificial intelligence and blockchain technology. Dr. Max Li, CEO of OORT, noted that while AI infrastructure investments could impact price trends, caution is necessary as the market undergoes a cycle of filtering and reshuffling.
Additionally, the current sentiment around FET remains bearish, as indicated by technical indicators and a high Fear & Greed Index score. The token has seen a 2.10% decline today, trading at $1.252404. This downturn aligns with predictions of a short-term downward trend, with forecasts suggesting further dips in the coming days.