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FET Altcoin FET enters correction stage, analysts reveal key price points
As the cryptocurrency market has recently encountered resistance, Altcoin FET has officially entered correction stage. Analysts are unveiling key price levels to focus on next. At the same time, the market is also waiting to see whether the peak of the "altcoin season" will arrive quickly and push FET to a record high (ATH).
Currently, the crypto market is in a short-term correction phase, and analysts expect this process to end in 2 to 3 weeks. During this period, the prices of Bitcoin and Ethereum fell from $87,000 to $82,000, and from $2,700 to $2,500, respectively. The impact of this correction on different altcoins will vary, especially since the FET fell into adjustment after the latest round of resistance tests, prompting analysts to further analyze the price dynamics that need to be paid attention to in the future.
Comparison of FET price performance with previous highs
According to data analysis from CoinMarketCap, the current trading price of FET is US$0.23. In the past 24 hours, the asset has fallen 1.27%; in the past seven days, it has fallen nearly 2.5%. However, from a long-term perspective over the past 30 days, FET prices have increased by more than 23%. To regain the all-time high of $3.47 set three years ago, FET needs to achieve a gain of more than 93%.
As relevant social media posts explained, experts confirmed that FET prices began to pull back after being blocked in the $0.265 - 0.270 range, but the broader technical structure still showed higher lows characteristics. Currently, FET prices are trading around US$0.233 after testing the US$0.221 - 0.225 support area.
Analysts identify key prices to focus on
In addition, analysis confirmed that spot trading volumes remained strong throughout the volatility process, providing support for a broader recovery. As a result, buyers now need to hold on to the current support area and regain the $0.240 level. If the price breaks through and is subsequently confirmed to be solid through backtesting, it may trigger a rise towards the US$0.250 - 0.257 range, and then it is expected to hit the US$0.265 - 0.270 range. The key is to avoid falling below the $0.220 price level.
Another analyst pointed out that FET prices are still far from their historical highs. Currently, he believes the FET is trying to recover from the bottom structure at the weekly level. Therefore, he claimed that the first real test was to regain the price range of $0.30 - 0.45 and confirm its stability through backtesting.
Amid continued bullish reversal scenarios, the analyst focused on US$1, US$2.10, and historical highs near US$3.50 as potential target prices for FET. The last target is approximately 1,336% higher than the price of $0.2437 on the chart. This requires a full trend recovery, not just a brief rebound. If the weekly close is below $0.12, this recovery scenario will be considered invalid.
