FET attempted to add a 5th great crypto AI project to the ASI merger, but this proposal caused a lot of community backlash. The ASI community feels like they keep getting diluted because new tokens are created every time a new team joins. The PAAL community hated the proposal because the exchange rate was awful, they would pay a fee, and they had to lock up their tokens for 180 days. The backlash has hurt FET’s price action in the short term, I still like this project in the long term. Right now FET is retesting the yellow trendline, which was a resistance level that is now acting as support. I think this is a great buying opportunity after the selloff, but the FET team needs to do a better job leading the community. There’s been too much FUD surrounding the merges.

Discounted Price Levels for PAAL

PAAL experienced a strong selloff after the bad proposal terms to join ASI. In my opinion there’s a lot of shady things that happened here. PAAL formed a bullish breakout above the light blue trendline, which got the community excited about a bullish breakout for a rally. Then MEXC listed perp trading for PAAL, which gives a way to short PAAL. The day after MEXC listing the PAAL team announced the proposal to join ASI with extremely terrible terms for the merge. I think the team might have profited from shorting PAAL so I would be cautious with trusting them. However, it looks like the PAAL community has been restored after the proposal was withdrawn. PAAL experienced a sharp selloff into the white support zone, forming a long wick below support. There has been a bullish rebound forming so far, and PAAL is likely to continue its recovery. PAAL needs to form a bullish breakout above the light blue trendline around $0.21 to start a bullish rally.

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