- FET price formed a bullish pump and sweep pattern
- Support near $0.234 remains critical for continuation
- Traders now watch the $0.242 breakout resistance level
FET price is showing renewed strength after forming a short-term “pump and sweep” structure that analysts believe could support further upside. Artificial Superintelligence Alliance traded near $0.235 at press time, up 1.77% over the last 24 hours.
FET Price Builds Momentum Above Key Fibonacci Support
Analyst Crypto Tony highlighted that the FET price recently completed a “pump and sweep” move. This setup occurs when the price briefly drops prior to lows before quickly recovering, often removing weak positions from the market.
Chart data from dinoView showed the token developing a rounded recovery structure above support. The move also coincides with the 38.2% Fibonacci retracement level near $0.23471, an area many traders consider technically important.
If buyers maintain control above the $0.234 to $0.235 range, FET price could retest the recent swing high around $0.2422. However, failure to hold support may expose the token to a deeper correction toward the $0.226 region.
Momentum indicators currently remain mixed. Trading volume increased only 1.94% over the last session, while the Relative Strength Index sits near 51, reflecting neutral market conditions.
FET Price Structure Suggests Buyers Are Still Defending Trend
The latest setup has attracted attention because the recovery developed after a period of weakness across several AI-focused crypto assets. Traders are now monitoring whether FET price can build enough momentum for a sustained breakout.
The current chart structure shows higher lows forming near support, suggesting buyers continue absorbing downside pressure. Analysts also noted similarities between the recent FET setup and recovery structures seen in Ethereum trading ranges earlier this year.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
