1 hour ago
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Key Takeaways
- FET at $0.1931, retracing to pre-March rally zone after fully giving back the move.
- RSI at 39.47, approaching oversold; SMA100 at $0.2015 is nearest resistance.
- Binance inflow addresses down 92%, netflow down 557% in one week.
- Reserve depleted 20% over 90 days: exchange supply thinner than before the March rally.
- March rally from this zone was fully retraced: same price, structurally different supply.
The chart looks identical to where it stood before the last significant move. The on-chain data does not.
The Chart: Same Level, Deteriorating Momentum
The daily chart places FET below all three moving averages. The SMA100 at $0.2015 is the nearest, sitting $0.0084 above current price. The SMA50 at $0.2179 and SMA200 at $0.2232 have converged near each other, forming a heavier resistance cluster $0.025 and $0.030 above price respectively. All three are declining. RSI at 39.47 with its signal line at 47.17 sits 7.70 points below the si...
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