As (CRYPTO:FET) approaches a critical juncture, investor sentiment is turning bearish, with the altcoin facing the possibility of a death cross.

Recent data shows a decline in network growth, suggesting a loss of interest among potential investors and contributing to downward pressure on prices.

Moreover, over 97% of FET's circulating supply is currently in profit, indicating a high likelihood of profit-taking activities among holders.

If FET fails to hold above the crucial support level of $1.96, it could trigger a death cross, potentially pushing prices down to $1.71.

Investors are closely monitoring these developments, as they may signal further downside for in the near term.