FET faces forceful downward pressure as bearish signals persist, and the Relative Strength Index (RSI) suggests further weakness may be on the horizon. Recent declines have brought the FET price closer to key support levels, and the current RSI reading indicates a continuation of the bearish trend. With a potential decline towards the $0.966 target, investors are wondering whether FET can find a bottom or face additional losses.

The article analyzes the recent downward pressure on the FET price, with particular emphasis on the cynical signals signaled by the RSI. By examining current market conditions, key support and resistance levels, and RSI implications, we will examine whether the token is likely to continue its decline towards the $0.966 target or if a potential reversal could occur.

What RSI Reveals for FETs

On the 4-hour chart, FET showed clear bearish momentum, falling below the 100-day elementary moving average (SMA) as it approached the $0.966 level. This move below the 100-day SMA signals that negative forces are currently outweighing bullish attempts at price recovery, possibly opening the door for further declines.

Analysis of the 4-hour chart shows that the Relative Strength Index (RSI) is now down to 34% after previously stalling at 46%. An RSI near 30% often suggests that a potential trend reversal may be imminent. However, in this context, it could also signal a continuation of the bearish path unless buying interest returns to support a rebound.

Meanwhile, on the daily chart, FET is showing a noticeable bearish move, trying to fall below the 100-day SMA. This downturn highlights increasing selling pressure and negative market sentiment, which together escalate the likelihood of the asset falling below the SMA and heading towards the $0.966 level. A successful breach of the 100-day SMA could signal further declines, pushing the price to a critical support level.

Finally, the one-day RSI shows that the negative pressure on the FET is intensifying as the signal line has recently dropped below 50% and is currently holding at 39%. As the RSI remains in the lower range, it suggests that sellers are gaining dominance, potentially paving the way for further declines unless buying momentum returns and changes sentiment.

Key Support Levels: Can $0.966 Hold Against the Bears?

As the FET price remains under downward pressure, the $0.966 level provides a key support level. If the price falls below this threshold, it could indicate a forceful correction that could result in a larger decline towards the $0.459 level and beyond.

Conversely, if the token manages to maintain its position above $0.966, it could indicate a potential reversal, allowing the bulls to regain some market control and pushing the price towards the $1.86 resistance level and beyond.