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- FET holds strong support, hinting at a possible surge to $2.
- Key trend lines are close to breaking, signaling a potential bullish rally.
- Traders are optimistic, anticipating a breakout and increased momentum for FET.
Fetch.ai (FET) is holding firm at key support levels, and crypto traders are paying close attention. After weeks of market uncertainty, FET is showing signs of stability that could pave the way for a breakout.
The charts are starting to align, with both short-term and major trendlines inching toward a bullish move. Many believe this could be the signal for a surge to $2, but will it happen?
Eyeing a Trendline Break
FET has been teetering on the edge of a breakout for some time now. The 4-hour trendline is within striking distance, and it’s not the only one.
A major trendline is also under pressure. If both break, it’s likely that FET could rally in the coming weeks. Crypto analysts are watching for a deviation that could trigger a breakout—a clear signal that the $2 mark might be next.
$FET – The weekly close is very likely gonna hold above support, and if it does, the plan I mentioned about a deviation with a breakout seems the most likely.
— L E O (@CryptoLeo00) September 8, 2024
We're so close to breaking both the 4h trendline and the major trendline. Next week is gonna be green—$2 is coming! 🚀 pic.twitter.com/crQV9bE7f3
Confidence is high among traders that this week will bring a green wave. FET’s support levels have held steady, which is a promising sign for bulls.
The crypto market appears to be waiting for a confirmation, but the sentiment is overwhelmingly positive. If FET maintains its current momentum, the $2 target seems more achievable.
What to Expect Next Week
Looking ahead, all eyes are on FET’s price action. Should the token break the key trendlines, it could trigger a buying frenzy.
Many traders are already positioning themselves in anticipation of a bullish run. A green week could boost confidence, setting the stage for further upward momentum.
FET’s technical indicators are pointing in the right direction. With both support and resistance levels aligning, the $2 target may be just around the corner.
However, as with all cryptocurrencies, caution is advised. While the signs are promising, the market can quickly turn, so keeping an eye on price movements is essential.