Falling FET Price Approaching $0.63 Increases Chance of Dive to $0.57

FET Price Analysis: Bearish Trend Persists, Key Support at $0.57

The cryptocurrency FET is currently trading at around $0.614, marking a 0.58% daily decline. The digital asset has been exhibiting a classic downtrend since mid-August, with consecutive lower highs and lower lows.

Traders are closely watching for a breakout above $0.68, as a potential confirmation of a reversal. However, short-term relief rallies have struggled to close above channel midpoints, indicating limited bullish conviction at present.

The four-hour chart shows FET trading within a descending parallel channel, which has defined market behaviour for weeks. The token is currently oscillating near the 0.786 Fibonacci level at $0.617, which often acts as a pivot.

The critical question is whether $0.57 can act as a durable support in the coming sessions. If FET can maintain footing above this level, it could provide a base for short-term rebounds. On the other hand, if $0.57 fails, traders may watch for further tests closer to $0.55.

The price structure shows a rejection cluster forming around the $0.63-$0.64 region, reinforced by Fibonacci alignment at the 0.786 zone. Market analyst Ali has warned of a potential rejection near $0.63, which could push the token back toward $0.57.

Fibonacci zones between $0.71 and $0.52 mark critical areas of interest for traders. If the FET price falls below $0.57, it is considered to be significantly under its expected trading range for 2025, as expert forecasts place the minimum price in 2025 between approximately $0.6784 and $0.7482, with averages around $0.78. Thus, a price under $0.57 would indicate weakness or bearish conditions outside these projections.

Sentiment remains bearish, and downside liquidity may continue to build below these zones. A sustained failure to reclaim higher zones such as $0.64 or $0.68 could solidify downside pressure. However, if FET can reclaim these levels, it could shift the market tone and invite stronger participation from sidelined buyers.

In conclusion, the current price action of FET suggests a bearish trend, with key support at $0.57. Traders will be closely watching for a potential breakout above $0.68 and the ability of FET to maintain footing above $0.57 to define the short-term trajectory.