- FET is forming a Bearish Butterfly harmonic pattern on its daily chart, which despite its name, could trigger a bullish continuation as price moves into the Potential Reversal Zone.
- The cryptocurrency is trading around $0.671, just below the key 200-day moving average at $0.679, which could become strong support if reclaimed by buyers.
- If FET holds support at $0.661 and breaks above the 200-day MA, it could rally toward $0.733 and potentially reach the PRZ target zone of $0.96-$1.06.
- Failure to maintain support above $0.661 would weaken the harmonic structure and expose FET to further downside before any potential bullish continuation.
Date: Tue, Aug 19, 2025 | 05:55 PM GMT
The cryptocurrency market is experiencing notable selling pressure as Ethereum (ETH) slips to $4,175 from its recent high of $4,780, marking a 4% intraday drop. This weakness has spilled over into the broader altcoin market, including Artificial Superintelligence Alliance (FET).
FET is in the red today, logging over a 7% weekly decline, but beneath the surface, a harmonic pattern is quietly forming on its daily chart—suggesting that a bounce back might be on the horizon.
Harmonic Pattern Hints at Potential Upside
On the daily chart, FET appears to be shaping a Bearish Butterfly harmonic pattern. While the name implies a bearish outcome, the final CD leg of this formation often triggers a bullish continuation as price stretches into the Potential Reversal Zone (PRZ).
The structure began at point X ($0.603), dropped to A, rebounded to B, and then corrected to C near $0.661. From there, FET has started to recover, now trading around $0.671, though it’s still in the early stages of confirming a sustained rebound.
Crucially, FET is trading just below its 200-day moving average ($0.679), a key level that could flip into strong support if reclaimed.
What’s Next for FET?
If buyers defend the C-point support ($0.661) and push price above the 200-day MA, FET could rally toward the 100-day MA at $0.733, which would strengthen the bullish case. A continuation from there could propel the token into the PRZ, spanning $0.96 (1.272 Fibonacci extension) to $1.06 (1.618 extension)—historically critical levels where the Butterfly pattern tends to complete.
However, failure to hold above $0.661 would weaken the structure, delaying confirmation of the CD-leg and exposing FET to further downside testing before any bullish continuation.
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