Artificial Superintelligence Alliance [FET] Price Prediction 2023–2026: Is FET Undervalued?

Artificial Superintelligence Alliance [FET] prices have struggled recently, dipping 20% in the last seven days alone. The dip came after the retest of a key

Artificial Superintelligence Alliance (FET) prices have seen a drastic decline of 20% in just the last seven days. This dip follows a retest of a key pennant resistance on the daily chart, leading to increased bearishness.

In the context of the broader downturn in cryptocurrency markets, FET's movements have sparked questions regarding a potential rebound or further decline.

DeepSeek AI's Impact on FET

DeepSeek AI's entry into the market has had a ripple effect, influencing sentiment across crypto and stock markets.

As DeepSeek AI continues its ascent, there is a palpable fear of competition between traditional and decentralized AI networks. This bearish trend has notably impacted projects like FET, contributing to their downtrend trajectory.

Is FET Undervalued?

Santiment's on-chain metrics offer valuable insights into FET's current state. The altcoin's MVRV ratio currently stands at -6.744%, indicating potential undervaluation.

According to historical trends, MVRV ratios below 1 often precede potential price rebounds. This suggests decreasing selling pressure for FET as it approaches a key demand zone at $1, which could pave the way for an altcoin accumulation phase.

Furthermore, FET's daily on-chain transaction volume in profit has dropped to 976K, marking the lowest levels in recent times. This could suggest that traders are not selling their coins at unrealized losses, signaling bearish market conditions.

On the other hand, there has been a spike in active addresses, hinting at renewed interest and possible accumulation.

A Rebound or Breakdown at the $1 Critical Demand Zone

Currently, FET is testing the key demand zone around $1, which might indicate the next price movement. Given the bearish sentiment influenced by DeepSeek AI's impact, there could be a push for the token to continue its downtrend.

However, considering FET's decentralized AI narrative, this might counter the bearish trend. The increasing active addresses complement the case for possible accumulation and may indicate a price reversal.

If FET manages to hold the $1 level, we could see a rebound, but if this fails and the broader market conditions remain bearish, we might see FET continue its downtrend further.