Hello everyone,
Welcome back to another technical analysis from SpearTrades.
Today, we are taking a closer look at Artificial Superintelligence Alliance (FET), a project that has recently shown encouraging signs after reclaiming an important support level.
While this is certainly a positive development, the real challenge for FET is only beginning.
Let us understand what the chart is telling us.
A Support Level That Buyers Defended
If you look at the chart below, you will notice that the $0.17 to $0.18 region has acted as one of the most important support zones for FET in recent months.
Earlier in June, the price briefly fell below this support, creating uncertainty among traders.
However, buyers quickly stepped in and reclaimed the level, preventing a deeper breakdown.
This is an encouraging signal because reclaiming a lost support often indicates that buyers are still willing to defend the market at lower prices.
At the moment, FET continues to trade above this important demand zone.
The Recovery Is Not Confirmed Yet
Although reclaiming support is a positive sign, it does not automatically confirm the beginning of a major bullish trend.
Markets usually recover step by step.
For FET, several important resistance levels still stand in the way.
The first resistance is located around $0.20. See below.
If buyers manage to reclaim that level, attention will shift toward $0.22, followed by $0.24.
These are the levels that will determine whether the current recovery has enough strength to continue.
Each successful breakout would improve the overall market structure and increase confidence among traders.
The Bigger Resistance Zone
If FET successfully breaks above $0.24, the next important area to watch will be the $0.29 to $0.30 resistance zone.
Looking at the higher time frame chart, you can clearly see that this region has acted as a major supply area where sellers have repeatedly entered the market.
A successful breakout above this zone would represent a much stronger technical improvement and could shift market sentiment considerably.
Until then, traders should remain patient and allow the market to prove its strength one level at a time.
Why Patience Matters
One of the biggest mistakes traders make is expecting a full recovery immediately after support is reclaimed.
Markets rarely move in a straight line.
Instead, they build momentum gradually by reclaiming important resistance levels one after another.
That is exactly what we want to see with FET.
Rather than focusing on previous highs, traders should pay close attention to how price behaves at $0.20, $0.22, and $0.24.
These levels will provide valuable clues about the strength of the current recovery.
FET has successfully reclaimed the $0.17 to $0.18 support zone, which is an encouraging sign for buyers.
However, the market still has important work to do before a larger recovery can be confirmed.
The immediate focus should remain on the resistance levels at $0.20, $0.22, and $0.24.
If buyers continue reclaiming these levels with strong momentum and healthy trading volume, attention could then shift toward the major $0.29 to $0.30 resistance zone.
At SpearTrades, we believe successful trading is built on preparation rather than emotion.
Instead of chasing price movements, we prefer identifying key technical levels before the market makes its next decision.
If you would like to perform similar analysis yourself, we invite you to explore SpearTrades.
Our platform provides technical indicators, support and resistance levels, pivot points across multiple time frames, Health Scores, momentum indicators, historical performance data, and much more to help traders make informed decisions.
The platform is completely free to explore for the first three months, and we would love to hear your feedback as we continue improving it.
Thank you for reading.
Disclaimer: This article is intended for educational and informational purposes only and should not be considered financial or investment advice. Always conduct your own research before making any investment decisions. Markets involve risk, and every investment decision should be based on your own research and risk tolerance.
Posted Using INLEO
