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FET Token Faces Turbulence as ASI Alliance Hits Rocky Waters
FET has dropped 6% amid mounting pressure from alliance disputes and deteriorating chart patterns. The situation took a sharp turn when Ocean Protocol announced its departure from the alliance, triggering legal complications that sent shockwaves through the community.
What's particularly concerning? There's still 660 million OCEAN tokens sitting unconverted after the merger—that's roughly $566 million in supply hanging in limbo. This uncertainty is weighing heavily on investor sentiment.
The technical picture isn't doing any favors either. Price action has broken below critical support zones, suggesting bears might be taking control for now. Between the alliance drama creating FUD and charts flashing warning signals, traders are approaching with extra caution.
Whether this is just temporary noise or the start of something bigger remains to be seen. But right now, FET holders are definitely feeling the heat.