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- 1 The FET token witnessed a trendline breakout and glimpsed buying momentum.
- 2 It recovered over 20% this week, delivering investor interest.
The FET token price shows a rebound from the round mark of $0.500 and witnessed a trendline breakout in the recent sessions. Moreover, the price action signifies the bullish momentum and will soon direct the gains toward $0.800. The token is holding gains in the bullish trajectory and is glimpsing a bullish crossover on the charts.
The FET crypto price has climbed above the key moving averages and delivered bull dominance in past sessions. Moreover, the structure replicates the buying at the support zone, conveying the investors’ buying interest and willingness to lift the token toward the blue sky zone. The price action signifies a trend reversal and reverts the lower high into higher lows, which indicates renewed buying interest.
The Fetch.AI (FET) token price was $0.6746 at press time, with an intraday gain of 0.10%, showing neutrality on the charts. Moreover, the trading volume increased by 12.26% to $79.41 Million, highlighting the breakout. The pair of FET/BTC is at 0.0000132 BTC, and the market cap is $745.16 Million. Analysts are bullish and suggest that the FET price will gain momentum and surpass $0.800 soon.
FET on Daily Charts Displays Falling Wedge Pattern Breakout
On the daily charts, Fetch. AI (FET) token price pulled back from the 100-day EMA mark and glimpsed a breakout in the last sessions. Furthermore, the token has climbed above the 20-day EMA and noted a bullish crossover. Per the Fibonacci retracement levels, the FET token has escaped the 38.2% zone and is heading to the 50% zone.
The Relative Strength Index (RSI) curve stays in the bullish region and depicts a positive crossover, signifying the bullishness for the upcoming sessions. Moreover, the MACD indicator shows a bullish crossover, and the green bars formed on the histogram suggest a significant upside can be anticipated in the following sessions.
FET on Weekly Charts Reveals Massive Accumulation From Lows
On the weekly charts, the token price recovered over 200% in the last three months and decisively retained the bullish trajectory. Moreover, the buyers who have gained buying momentum are stretching the upside and are targeting to climb above $0.800 for a significant bull rally. The token has made a bottom formation, and a sharp reversal from the lows was glimpsed in the past weeks.
Summary
Fetch. AI (FET) token price signifies bullishness and a trendline breakout above $0.500 gives a firm conviction that bulls are attempting to stretch the token toward the prompt hurdle of $0.800. Moreover, the token is poised for an upside, and a bull run is anticipated in the upcoming sessions.
Technical Levels
Support Levels: $0.6500 and $0.6300
Resistance Levels:$0.7000 and $0.7500
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.