- The coin price has given a breakout of the symmetrical triangle pattern on the daily chart.
- Fetch.ai Coin price has surged by over 100% in a month.
- The current market price of the Fetch.ai coin is $0.5015.
Since being listed on an exchange, the FET coin price has witnessed a strong decline from the upper level. With this decline, the coin price created an all-time low level of $0.00827 on March 13, 2023.
After the decline, the coin price has shown a significant surge from the bottom, as the coin price has surged by over 10000% from the lower level. In this surge, the coin price reached an all-time high level of $1.19 on September 8, 2021.
From the higher level, the coin price has again started the downtrend and remained in it for the whole year in 2022. However, it has shown a great surge at the beginning of the year 2023.
Recently, the crypto market has witnessed huge buying pressure from investors and the market has surged significantly. The coin price has also participated well in this rally and surged marginally from the lower level.
Can the FET Coin Price Reach the $1 level?
The FET coin price has formed a symmetrical triangle pattern on the daily chart. It has recently given a breakout of this pattern on the upside. This is considered bullish and the coin price has shown a great surge after that.
Fetch.ai coin’s price has breached the resistance level of $0.2740 and it can act as a support level for the coin. Apart from this, the other support level for the price is present near the $0.3551 level.
FET coin price has faced a huge rejection from the level of 0.5803, this level can now act as resistance to the price. However, if the price breaks this resistance in future, then it can try to move towards the level of $0.7055.
What EMA and RSI are Indicating About the FET Coin Price?
The FET coin price is trading above the 50-day and 200-day exponential moving averages (EMA). Recently, it has shown a golden crossover on the daily chart and the price has acted positively after that.
The relative strength index (RSI) is curving at 64.33, which is a bullish sign for the coin. However, the slope of the RSI is downwards which indicates that the bulls are losing momentum.
Conclusion
The FET coin price has shown great strength in recent times and the bulls are looking strong. Both the indicators are currently favouring the bulls, which is a good sign for the coin. The bulls need to take control of the resistance level of $0.5803 to show a good upside.
Technical level
Resistance level – $0.5803 and $0.7055
Support level – $0.2740 and $0.3551
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.