The Artificial Superintelligence Alliance (FET) faced a steep 34% price decline, its biggest drop in months, confirming a predicted correction pattern. Despite significant losses for investors, whales are seizing the opportunity at lower prices, hinting at confidence in a potential rebound.

Investors in the Artificial Superintelligence Alliance are feeling the pressure as losses hit record levels, prompting many to sell off holdings to prevent further decline. The market sentiment remains bearish, with retail investors adopting a cautious approach amidst the prevailing pessimism.

The recent sell-off has instilled a sense of wariness among the investor community, with many refraining from major moves due to market volatility and the fear of more losses outweighing the desire to buy. However, whales holding substantial amounts of FET have been actively accumulating, adding 92 million FET valued at $70.8 million over the past week, indicating their optimism for a potential recovery.

The surge in whale activity amid the market dip suggests a positive outlook. Whales, considered seasoned market players, leveraging price drops to bolster their positions hint at their belief in a turnaround for FET.

Despite breaking key support levels and witnessing a sharp correction down to $0.77, FET is currently holding above the $0.76 support, potentially indicating a market bottom. The altcoin's ability to secure $1.04 as support will be crucial for a successful recovery post-correction.

If FET fails to maintain the $0.76 support level, further downside is possible with targets at $0.73 and potentially $0.64, which could negate the bullish prospects and trigger additional losses.