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On May 7th I posted that $FET was sitting on its 200-day MA at $0.2263 with volume returning.
Today:
- The 200MA is at $0.2261
- Price is at $0.2385
$FET just closed above the 200-day MA on the daily for the first time since this downtrend began.
Here is why that matters more than most people realize.
The full chart tells a brutal story. $FET peaked near $0.95 in mid 2024. What followed was one of the most sustained and unforgiving downtrends in the AI token sector. The September 2025 flush was the violent capitulation. Price collapsed to $0.10 in a matter of weeks on volume that dwarfed everything before it.
That September candle was the moment. The forced liquidations. The panic sellers are handing their bags to patient buyers near the lows.
From that $0.15 floor, something quiet started happening.
Higher low at $0.15. Higher low at $0.19. Higher low at $0.21. Each one invisible to anyone not watching closely. The structure building underneath a still-declining moving average, while most people had already written $FET off entirely.
On April 12th I said one level changes everything. That level was the 200MA.
On May 7th $FET touched it.
Today $FET is trading above it with 27.95M in daily volume, confirming the move.
The honest read is the same one I gave two weeks ago.
The 200MA is still sloping downward. That means the long term trend has not officially reversed yet. One close above a declining moving average is a signal, not a confirmation.
What turns this signal into confirmation is price holding above $0.2261 on any retest and then pushing toward $0.30, the next meaningful resistance on the daily chart.
What kills the thesis is a daily close back below $0.2261 with conviction.
Right now, the chart is doing exactly what it needed to do after the April 12th post:
- Higher lows
- Volume returning
- 200MA reclaimed
Three weeks ago, two groups were looking at this chart.
The first group saw a dead token and kept scrolling.
The second group saw a base building under a declining average and started paying attention.
The chart is now asking both