FET altcoin enters correction phase following price rejection

The cryptocurrency FET is currently undergoing a correction phase following a price rejection near the $0.265–$0.270 range. While the asset has seen a decline of approximately 1.27% in the last 24 hours and 2.5% over the last seven days, it remains up by more than 23% over the past 30 days.

Technical analysts are monitoring key support zones to determine the asset's next move. Current trading has been observed around the $0.233 level, with a critical support zone identified between $0.221 and $0.225. Another significant short-term support area lies between $0.2156 and $0.2164, which aligns with the Anchored VWAP.

Market indicators suggest that if buyers can defend these support levels and reclaim the Point of Control near $0.2180, a bullish recovery could follow. Potential upside targets include resistance levels at $0.2240 and a higher-timeframe resistance zone between $0.2279 and $0.2288.