Ethereum Correction Fuels FIL and FET Tests: Potential Rebound on the Horizon?

The cryptocurrency market is facing a significant downturn, with Bitcoin (BTC) and Ethereum (ETH) experiencing substantial drops of over 8% and 11%, respectively. This downturn has impacted altcoins like Filecoin (FIL) and Artificial Superintelligence Alliance (FET), which have both suffered significant losses of 10% and 15% in the past week, extending their previous correction to over 40%. Now, both assets are testing key support levels, prompting a question: is a rebound imminent?