FET Price Dips Below Key Levels — Can Bulls Stop the Fall Below $0.20?

FET is showing lower highs and lows, unable to break resistance at EMA-9 and 50-period SMA.

Ocean Protocol converted 661M OCEAN into 286M FET without clear disclosure, triggering concerns and a sharp sell-off in both tokens.

ASI’s market cap plunged from $900M to $670M in five days, showing weak investor sentiment and failed recovery attempts despite trading volume spikes.

FET price has dropped to $0.2646, falling over 11% in the last 24 hours and 24% this week. Rising sales pressure and alliance drama continue to weigh on the Artificial Superintelligence Alliance token.

FET Price Struggles Under Key Resistance Levels

FET is moving within a descending channel , the price has been making consistent lower highs and lower lows, showing ongoing selling pressure. At the moment, FET is trading near $0.2631, just below the 9-period EMA, which sits at $0.2764.

The EMA and the upper boundary of the channel are acting as strong resistance zones.The price has failed to break through these levels. The 50-period SMA, at $0.2993, also remains untouched, adding more weight to the current downtrend.

As shared by @alphacryptosign on X, FET would need to break above the descending trendline, reclaim the $0.30 level, and push higher with solid volume to show any signs of recovery.

AI Alliance Rift Sparks Sell-Off Across Tokens

The token conflict between Fetch.ai and Ocean Protocol has introduced new volatility into the FET price. Fetch.ai’s CEO accused Ocean Protocol of converting 661 million OCEAN into 286 million FET (~$84 million) and transferring large sums to exchanges without transparency. This raised community concerns about possible market manipulation.

Ocean has since exited all roles within the Artificial Superintelligence Alliance (ASI), citing legal concerns. The protocol denies wrongdoing and has confirmed treasury integrity, initiating arbitration to address the situation. Binance paused ERC-20 OCEAN deposits starting October 20 due to increased risk perception.

The market reaction has been swift. FET dropped nearly 10% to $0.2954 following the news. OCEAN has also declined to $0.26, down 70% from March levels due to movements reflecting growing market concerns surrounding governance,tokenomics,and transparency within the AI crypto space.

ASI Market Cap Tumbles Amid Investor Uncertainty

The overall market capitalization of the ASI alliance has seen a sharp decline over a 7-day period in October.This drop reflects waning investor confidence and persistent bearish momentum across the AI token sector.

CRV’s market cap briefly jumped above $770 million, likely fueled by hype or news-driven buying. But the momentum didn’t last — it quickly dropped back below $700 million, signaling weak follow-through from buyers.

Despite increased trading volumes, the lack of sustained price recovery indicates continued distribution. ASI’s short-term trend remains bearish unless it can reclaim $750 million with strong, consistent buying support.

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