Artificial Superintelligence Alliance [FET] was unable to climb past the $0.9-$1 resistance zone

Artificial Superintelligence Alliance [FET] was unable to climb past the $0.9-$1 resistance zone. In a recent report, AMBCrypto highlighted the importance of the $0.75 support level.

Artificial Superintelligence Alliance (FET) has been unable to penetrate the $0.9-$1 resistance. As AMBCrypto previously reported, the $0.75 was a key support to watch out for.

Over the past couple of days, another support level at $0.81 has emerged as a key short-term level.

Additionally, the potential for a range formation was also noted. A range had formed, and the next stage of liquidity to be built up was being prepared for. Traders can expect more volatility in the AI token in the coming days.

What does this mean for FET traders?

On the 12-hour chart, FET had a bullish outlook. It had made higher highs and higher lows since mid-April. Correspondingly, the On Balance Volume (OBV) has also trended higher.

This showed that the rally was supported by increased demand.

The Relative Strength Index (RSI) has remained above neutral 50 for the most part, reflecting the bullish momentum of the AI token in recent weeks.

The drop in RSI in recent days was a result of the multiple rejections FET saw at the $0.9 threshold.

On the four-hour chart, this resistance was not yet overcome. A range formation between $0.805 and $0.94 had developed. The selling pressure while FET traded within this range was not high, as seen on the OBV.

The RSI had meandered around neutral 50, a sign of a lack of firm momentum. This came from the short-term range formation.

The Liquidation Heatmap from Coinglass showed a buildup of liquidation levels just below the $0.8 level, the lows of the current range. A small patch of liquidity was present at $0.89, and could be hunted in the short term.

A move southward appeared more likely, especially in the case of a Bitcoin (BTC) drop from the $109k-$110k region. Hence, traders should be on the lookout for a retest of the $0.8 support zone.

However, a move to $1 was also possible. It was unlikely, but a surge in volume could serve as a heads-up for traders about a potential move to $1.