After 90% Crash, FET Suddenly Wakes Up: Is This the Start of Something Bigger?

Artificial Superintelligence Alliance has spent most of the past year under heavy pressure, with FET price losing over 90% from its all time high. That long stretch of weakness came with major setbacks, including ASI merger uncertainty and Ocean Protocol stepping away, which kept price action stuck in a prolonged decline. Recent market activity now shows a different tone as FET begins to move again while Bitcoin trades sideways.

Analyst Wight from Wight Capital pointed to a key technical development that changed the outlook. He noted that the Summit Cloud turned green on March 22, and FET price has been moving higher since that point. That signal came after months of red cloud structure, which often aligns with extended downside phases.

Wight explains that the cloud flip represents more than a simple indicator change. It signals a transition in market structure after a long period of weakness. FET price has climbed close to 20% over the past week, even as Bitcoin shows limited movement and many altcoins remain under pressure.

March data supports this improvement. FET traded near $0.16 at the start of the month, then dipped toward $0.14 around March 10 before pushing up to about $0.22 by March 19. Price now sits around $0.23, which keeps it more than 30% above early March levels.

That sequence shows a recovery that began with consolidation and then moved into a strong upward phase. The modest pullback from $0.22 to around $0.21 looks controlled and does not point to a breakdown.

Artificial Superintelligence Alliance Narrative Supports Renewed Demand

Wight also connects the recent move in FET price to a broader narrative around Artificial Superintelligence Alliance and AI-related infrastructure. The project sits at the center of discussions around decentralized AI agents and on-chain compute, which has drawn renewed attention across the sector.

This narrative often plays a role during recovery phases. Strong themes tend to attract capital once technical conditions improve, especially after long periods of decline. FET now finds itself aligned with one of the most active conversations in technology, which strengthens its position during this phase.

A closer look at the data shows that FET price still holds a constructive structure. Price trades above the 7-day moving average near $0.22 and remains well above the 30-day average around $0.18. That positioning usually supports an uptrend as long as those levels hold.

FET Price Chart / TradingView.com

Momentum indicators also support this view. MACD remains positive on the daily timeframe, and RSI near 64 shows strength without reaching extreme levels. That balance often appears during sustained upward phases that still allow room for continuation.

Wight notes that this type of setup often leads to consolidation before another move higher. Rapid gains within a short period usually require time for the market to stabilize before the next direction becomes clear.

Key Price Levels Will Decide The Next Move For FET

Price structure now highlights several important levels. Support sits around $0.20 to $0.21, which acts as a critical zone for maintaining the current trend. A move below that region would weaken the setup and open space toward $0.18.

Upside levels also stand out clearly. A clean move above $0.25 would strengthen the case for continuation and could open the path toward $0.29 and possibly $0.33 if demand remains strong.

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Wight emphasizes that the most likely short-term outcome involves a range between $0.20 and $0.26 as the market processes recent gains. That range would allow the trend to develop without immediate pressure from either side.

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