thecoinrepublic.com
- 1 FET price has crossed the $2 mark, investors could be looking at the early stages of a bull rally.
- 2 The AI token has gained traction and will likely stretch the gains ahead.
The Fetch.ai (FET) token has holded the buying momentum and was sustaining gains near the $2 mark. The trend is neutral and buyers are looking to accumulate the gains for an upward rally ahead.
Artificial intelligence (AI) tokens are getting noticed with impressive charts. FET token has been relatively stable and has yet to display a Christmas chart.
The token has rebounded from the 100 day EMA mark and is poised for an up move ahead. If the token crosses the prompt 20 day EMA hurdle, a sudden spike around 5-10% can be anticipated soon.
At press time, the Fetch.ai token (FET) price traded at $2.20 with an intraday drop of 0.66%, reflecting neutrality on the charts. It has a monthly return ratio of -12.90% and 799.78% yearly and ranked at 24 per the market capitalization.
The pair of FET/BTC is at 0.0000360 BTC, and the market cap is $5.69 Billion. Analysts are bullish and suggest that the FET price may gain momentum and will outperform in the upcoming sessions.
Price Action Outlook: Can FET Outperform Ahead?
The daily chart of the Fetch.ai token articulates neutrality and shows uncertainty. Until the 20 day EMA mark was not breached, . A break and close above the $2.50 mark would validate the buying pressure.
Source: Santiment
The intraday trading volume remained flat and surged only by 1.90% to $119.84 Million, highlighting the nominal trading activity throughout the day.
Meanwhile, the Relative Strength Index (RSI) curve stood near the midline region, close to 49. However, a convergence of the signal line and the RSI line was witnessed.
Per the Fib levels, the Fetch.ai token price has sustained above the 38.2% zone and beyond the mid bollinger band.
Could Surge In Popularity Uplift FET Price Beyond Bars ?
Recently, the development activity of the Fetch.ai token noted a mesmerising up move and glimpsed the positive developments.
The development activity data showed a notable rise over 32% to 3.55, reflecting the bullish outlook.
Source: Santiment
Going forward, the social dominance data also reflect the same, a surge over 9.89% to 0.371% was noted. This gigantic up move may be led due to the curiosity among the investors on the social media platforms related to artificial intelligence projects.
The immediate support levels for the Fetch.ai (FET) token is $2 and $1.80 whereas the key upside hurdle is around $2.60 followed by $3.
Conclusion
The Fetch.ai token (FET) is trading near the breakout region and is likely to deliver bullish delights soon. Moreover, the trend is neutral and the buyers have an edge, while looking relatively weaker.
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.