Artificial Superintelligence Alliance (Downtrend Line)
2024-10-06

Artificial Superintelligence Alliance (FETUSDT) did even better than Injective; between November 2022 and March 2024 it grew an astonishing 6,527%. After a bullish wave, a correction follows. After the correction, we get a consolidation period followed by a new bullish wave.

FETUSDT has been red since March 2024, but it seems that the correction is not over. Just last week, we see a candlestick that clearly shows a minor peak, a lower high. This can be the end of wave B of a classic ABC pattern.

The first drop from March through August sent prices as low as January 2024/December 2023, baseline level. With the lower high now forming, a bearish continuation is likely next. This continuation will most likely end in a lower low because we have a lower high. The lower low can push prices toward the September/October 2023 consolidation price range.

It seems we are about to experience a very, very strong crash. There is nothing bullish on this chart. It will be super bullish after the correction ends. But for now, stay out or SHORT, because the market is about to turn red.

Namaste.