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FET Token Drops 3.05% Amid Macro Risk-Off and Technical Breakdown

Guavy AI Editorial Team
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BTC FET
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The Artificial Superintelligence Alliance (FET) token experienced a decline of 3.05% in recent days, largely driven by macroeconomic risk-off events and a technical breakdown.

A global risk-off move affected FET and other AI tokens, with Bitcoin falling around 2% during the US overnight session. The South Korean Kospi index plummeted about 11%, and the US Senate shelved the Crypto Clarity Act ahead of a key Fed meeting.

The chart structure of FET also turned bearish, contributing to the decline. Price broke down from a consolidation range and sellers took control after losing support at $0.16. The token tested its long-term trendline from May 22 at around $0.1387.

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