FET Price Drops 20% in a Week as AI Cryptos Face Heavy Selling

FET price has been in a steep decline, dropping over 40% in the last 30 days and another 20% in the past week. This sharp correction follows the broader weakness in artificial intelligence tokens, with technical indicators pointing to continued bearish momentum.

While mid-sized whales have been selling, larger holders are accumulating, creating uncertainty about whether a bottom is forming. With a rising ADX confirming strong downside pressure and EMA lines maintaining a bearish structure, FET now faces key support and resistance levels that could determine its next major move.

FET Whales Are Sending Mixed Signals

FET whales have shown mixed signals recently. The number of addresses holding between 100,000 and 1,000,000 FET dropped from 404 to 389, while those holding 1,000,000 to 10,000,000 FET increased from 166 to 180.

This suggests that mid-sized holders are selling while larger FET whales are accumulating, leading to a shift in the market.

Tracking whale activity is crucial as their movements often impact price trends. With FET down 15% in the last 24 hours and nearly 50% in the past month, this pattern could indicate either a potential bottom or continued volatility.

If large whales keep buying, confidence in recovery may grow but sustained selling pressure could push prices lower.

FET DMI Shows the Downtrend Is Very Strong

FET’s ADX is currently at 49.4, nearly doubling from 24.8 in just two days. This sharp increase signals that the strength of the current trend is intensifying, reinforcing the ongoing market direction.

Given that FET is in a downtrend, the rising ADX suggests bearish momentum is getting stronger.

ADX measures trend strength, with values above 25 indicating a strong trend and those above 40 signaling an even more powerful move.

Meanwhile, +DI has dropped from 14.5 to 5.7, while -DI has surged from 19.6 to 37.3, peaking at 48.1 earlier. This confirms that sellers are firmly in control, and unless +DI starts rising, FET price could face further downside pressure.

FET Price Prediction: Will FET Reach Its Lowest Levels Since December 2023?

FET’s EMA lines are in a bearish formation, with all short-term lines below the long-term ones. If the current downtrend remains strong, FET could test support at $0.69, and a breakdown below that could lead to $0.59.

If selling pressure persists, the price could drop below $0.50 for the first time since December 2023, threatening its position as one of the most relevant artificial intelligence cryptos in the market.

However, a shift in momentum could push FET price toward resistance at $0.94.

A breakout above this level could see it test $1.11, with further upside potentially bringing it back to $1.34.