FET Symmetrical Triangle Signals Potential $1.60 Breakout

The FET token, representing the Artificial Superintelligence Alliance, is approaching a critical technical juncture as it forms a symmetrical triangle pattern on daily charts. This pattern indicates price compression within contracting trendlines and typically precedes significant directional moves. According to crypto analyst Jonathan Carter, the formation is fast approaching its vertex, suggesting an imminent breakout decision. The pattern’s convergence comes amid growing trade volumes and building momentum, both signaling that a decisive price movement could occur shortly.

Technical analysis identifies three key breakout targets should the pattern resolve to the upside: $0.88, $1.15, and ultimately $1.60. However, the token faces substantial resistance in the $0.70–$0.90 zone, which has proven difficult to breach. The current price of $0.6479 sits significantly below key exponential moving averages at $0.70 and $0.89, indicating persistent bearish momentum that has prevented the market from reaching higher levels since FET’s peak above $3 in early 2024.

Current technical indicators paint a picture of market indecision. The Relative Strength Index (RSI) sits at 45, indicating neutral momentum without clear overbought or oversold signals. Meanwhile, the Moving Average Convergence Divergence (MACD) remains below zero, with its histogram showing horizontal momentum and weak buying pressure. These readings suggest sideways sentiment dominates the FET market, with consolidation prevailing until a decisive breakout occurs.

The token’s recent performance underscores this uncertainty. Over the last 24 hours, FET has declined by 4.58%, while the weekly performance shows a similar drop of 4.66%. Despite this price weakness, trading volume has increased by 5.05% to $105.46 million, suggesting heightened activity around current levels. Market capitalization has declined by 4.6% to $1.53 billion, reflecting the broader bearish pressure affecting the crypto market, particularly as Bitcoin’s downward momentum dampens speculator interest across altcoins.

FET’s price history reveals extreme volatility throughout 2024, with dramatic monthly swings that highlight the token’s sensitivity to market sentiment. February and March saw spectacular gains of +159.8% and +106.9% respectively, while April experienced a -33.5% decline. The pattern continued through the year with June dropping -33.3%, July falling -19.1%, and September jumping +34.3%. This volatility underscores the potential for rapid price movements should technical conditions align with fundamental catalysts.

The Artificial Superintelligence Alliance’s focus on AI technology provides a fundamental backdrop that could support renewed investor interest. As AI-related tokens gain wider appeal within the cryptocurrency space, FET’s potential rally could attract broader attention and bring fresh momentum. The combination of technical pattern completion and growing sector interest creates conditions where a successful breakout above the $0.70–$0.90 resistance zone could trigger significant upward movement toward the identified targets.