Key Takeaways
Why did FET fall this week?
Overbought signals and a $13 million Open Interest drop triggered outflows and profit-taking. Big surprise, right? A token gets too popular, and suddenly everyone’s rushing to cash in. Funny how that works.
What suggests a rebound ahead?
Spot inflows of $6.5 million, RSI near 48, and MACD’s bullish crossover hint at a potential recovery. But hey, let’s not get too excited. We’ve been here before.
Artificial Superintelligence Alliance [FET] witnessed a massive outflow, dragging it down by 14% over six days. Market sentiment? Pretty much a “meh” with monthly outflows sitting 40% lower. Can someone say ‘reality check’?
The drop? It might just be a simple market correction. Could be nothing. Could be the start of something… less disastrous. Let’s see what AMBCrypto has to say.
Overbought territory pushes FET lower
Turns out, FET’s plunge came courtesy of overbought territory, combined with an exodus of liquidity. Like a crowded party that suddenly empties out-except the hangover lasts for days.
The Bollinger Bands chart showed FET strutting along the overbought zone, which is clearly marked with a circle on the chart below. The green line’s like a brick wall-when the price crosses it, you can almost hear the sound of sell orders piling up.
Outflows from the Derivatives market only made things worse, as open interest dropped like a stone in the last 24 hours.
CoinGlass data reported over $13.2 million in contract positions closed, with $1.4 million of that from liquidations. Don’t worry, they weren’t all tears of joy.
The price was headed for a cozy middle Bollinger Band at $0.2588-would’ve been a nice support level if FET didn’t decide to be difficult.
But if that support fails? Oh boy, expect FET to slide to $0.1837-where it’s been comfortable before. If it goes lower than that, call in the search party.
Still, this decline could be a minor setback. A correction. Get ready for the bounce. Probably. Hopefully.
A short corrective phase
Oh, don’t panic yet. This could just be a tiny, temporary dip. It’s like that moment you regret your last impulse buy. Market sentiment shows liquidity’s already creeping back in.
According to CoinGlass’s Spot Exchange NetFlow data, despite the price drop, Spot investors snatched up $6.5 million worth of FET in just two days. Looks like someone’s still hopeful. Or maybe they’re just really, really into FET.
Meanwhile, Open Interest is still in decline by $13 million, but the Funding Rate’s up to 0.0083%, showing that long traders are still paying shorts. That means someone’s feeling pretty confident about a comeback. Who are these brave souls?
Momentum is slow, but bulls show signs of revival
Tech indicators like the RSI and MACD tell a story of slow but steady recovery. Selling pressure? Yep, still there. But fading, like that one friend who refuses to leave the party.
The RSI slipped below 50-so buying momentum is a little weak. But the MACD is trending upward, so there’s still a faint glimmer of hope. Maybe this bull is just warming up.
If the RSI reverses and the MACD keeps climbing, FET might just be getting ready for a glorious rebound. Cross your fingers, folks. We might be in for a show.
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2025-11-09 21:18