FET Market Displays Death Cross; Can Bullish Supremacy Resume?

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After failing to breach resistance, FET bears seize control.
In the previous 24 hours, bulls pushed the price to a 7-day high.
Bearish crossover in the FET market weakens traders’ hopes for a sustained bull run.

While bulls have had the upper hand for most of the day, sellers have now emerged to reclaim control of the Fetch.ai market, which is currently heading down after encountering resistance at $0.4979. When bulls pushed the FET price to a fresh 7-day high of $0.4979 (the intraday excitement), the current slump in negative momentum manifested itself. The price of FET has fallen 4.2 %, down to $0.4221 at the time of writing, as the bear market continued.

Investors are on edge about the future of the FET price due to concerns that it may go below the $0.417 support level. As a result, the 24-hour trading volume surged by 335.32% to $306,353,837, while the market cap declined by 4.15% to $344,605,187. Due to the anticipated break of the FET price downward, traders have made advances to expand their market positions, leading to a spike in trading activity.