ASI breaks key $0.66 support triggering triangle breakdown with target around $0.39
FET daily close below 0.5 Fib signals bearish trend toward $0.56683 and $0.45291
RSI at 57.99 and weakening MACD hint at fading bullish strength near $0.633 resistance
Artificial Superintelligence Alliance (ASI), specifically Fetch.ai (FET), has broken below key technical levels, raising concerns among traders about continued downside pressure.
Breakdown Confirms Bearish Pattern in Artificial Superintelligence Alliance
Artificial Superintelligence Alliance has shown a confirmed bearish structure on the daily timeframe. The symmetrical triangle, formed since March, broke to the downside near the $0.66 level. This move marked a critical shift as it invalidated the ascending support line and triggered a potential downward projection.
The Fibonacci retracement levels, drawn from $1.23 to $0.17, show the price has slipped below the 0.5 level at $0.66161. A measured move based on the triangle’s width suggests a target close to $0.34647, the 1.0 Fibonacci retracement. Additionally, Fibonacci levels at 0.618 ($0.56683), 0.786 ($0.45291), and 1.272 ($0.24604) are now key price areas under observation.
Price action around $0.63 confirms further downside is plausible unless $FET reclaims the $0.66–$0.68 range. Historical price activity also supports $0.39 as a possible horizontal support.
Market Snapshot Reflects Weakened Momentum
On the 5-minute chart, Fetch.ai is trading around $0.633 with volume reaching 40.52K. A slight recovery followed a sharp decline to $0.602, indicating short-term accumulation. However, resistance near $0.660 continues to hold. Volume during the sell-off phase was higher, pointing to strong liquidation earlier in the session.
Technical indicators give people mixed responses RSI is at 57.99, which is in the moderate bullish area that is not overshot. In the meantime, the MACD is approaching convergence, the histogram is also passing below zero. It signifies a deteriorating purchasing power or even the period of consolidation
The community sentiment remains bullish at 87%, though this could signal euphoria. The token’s circulating supply is 87.5% of the total, limiting the chance of dilution and adding confidence among long-term holders.
Technical Signals and Short-Term Resistance Zone
A tweet from RaaFi indicates a short signal with an entry range of $0.632–$0.641 and a target of $0.625. This aligns with visible resistance between $0.641 and $0.660, a zone where price action previously failed to sustain rallies. Should the asset be rejected again here, the $0.625–$0.615 support band may be retested.
In case the price breaks below the $0.625 indicator, the demand levels such as: $0.56683 and $0.45291 may be involved. A break above $0.641 would only change the short-term bias to a situation where a retest of $0.66 would have taken place.
The overall price structure remains bearish, pending further confirmation of support or reversal signals. Until then, Artificial Superintelligence Alliance may continue to face downward pressure with \$0.39 as a target zone.
