Fetch.ai Price Nears Key Buy Zone, Potential Upside To $2.00? 

Fetch.ai is approaching its buy zone at $1.20 as it shows signs of an upward trend. Cryptodoc_ currently says that FET has recently emerged from a long-term downtrend line, and the $2.00 target is attainable from here.

Traders are closely watching to see if FET will be able to sustain the support and keep the bullish momentum.

Break of Downtrend and Retest Could Signal Trend Reversal

On the daily chart, Fetch.AI has just broken through a long-term downtrend line, marking a significant breakout after a prolonged bearish trend that persisted through most of FET’s price movement in the year.

1-day FET trading chart|source Tradingview

After the breakout, Fetch.ai (FET) price retraced to test the previous downtrend line, a move that could act as confirmation if buyers enter at this level.

If FET is to successfully hold above this level, it could strengthen this reversal and attract further buying interest.

Looking further, the Money Flow Index (MFI) at 42.06 is almost neutral meaning that there is equal buying and selling pressure. An MFI increase may suggest that buying interest is strong enough to drive the price to new highs.

Buy Zone at $1.20 Shows Potential Entry Point

According to a technical analysis made by Cryptodoc_, there is a significant buy level at $1.20 at which price it may be supported.

This green-shaded area correlates to prior consolidation levels, creating a possible support area for buyers seeking long-term hold positions.

“Fetch_ai is a long-term HODL, and we have been in it since 0.08.” cryptodoc_ points out adding a positive stance to FET’s prospects.

The buy zone represents both technical and psychological support to the price as there was multiple buying interest at this level, hence limiting the downside to FET

But if FET fails to sustain a position above this level, more declines may occur and the next major support is found at $1.00 A drop below $1.20 suggests that the bears have taken over the market.

Fetch.ai Potential Upside to $2.00 if Support Holds

Cryptodoc_adds that if support remains strong at the buying zone and the bullishs continue to run the market, FET will move toward the $2.00 level.

FET/USDT trading chart|source X

However, this level, marked in red on the chart, previously acted as a resistance area and may attract profit-taking if FET reaches it. With the potential for more bullish moves, $2.00 is an attainable target for traders.