- FET coin price bounced back from the $0.52624 demand level.
- The price has given a weekly return of 21.26% while the monthly return has declined by 0.68%.
Fetch.ai is an artificial intelligence rooted in optimizing DeFi trading services, and digital systems that rely on large-scale datasets. Founded in 2017, the FET utility token is designed to find, create, deploy, and train digital twins on the platform. Fetch.ai is completely secured by the decentralized blockchain technology and can be bought and sold on various crypto wallets like Binance and HitBTC.
Important Levels and Price Actions of the Fetch.ai
In the 4th quarter of 2023, the FET coin price surged by over 190% to the $0.59474 level. That rally gave a boost to the crypto buyers subsequently, the price made a minor pullback at the $0.46354 support level.
The price reached a new high at $0.83080 with an increase of more than 80% in its value even though, it fell on the $.52624 support level. Consequently, the buyers gave a strong bullish reaction at that level, followed by the $0.46354 demand zone.
On the other side, the relative strength (RSI) touched its peak when the FET coin price first surged in 2023. Since then, the RSI started showing internal bearish divergence from the $0.59474 first checkpoint of the rally which can be ignorable now.
The price is moving upward with the aim of $1.00 and is ranked 114th and 117th in terms of market capitalization and volume. Additionally, the all-time high is set at the $1.19 level and the current FET coin price is performing 43.5% below it.
Technical Analysis of the FET Coin
In January 2024, the FET price moved below the 50-Day EMA which trapped a lot of sellers in the market. Afterward, the 200-Day EMA played an important role in keeping the uptrend by providing support from the buyers. Currently, the price bounced off of the 50-Day EMA, which is a positive indication of a strong trend.
Conversely, the FET coin price has given a breakout of the flag-like pattern at the $0.62328 level. It is moving toward the $0.78452 resistance level and before that, it took support from $52624 demand level.
After retesting demand, FET coin price is displaying strong bullish candles that are also responsible for the pattern breakout. It is moving toward resistance, and if it sustains above it, it could easily achieve the $1.00 target.
Nonetheless, the relative strength index (RSI) shows strong momentum in recent sessions, indicating bullish sentiments in the market. The RSI is sloping at 58.17 above the signal line at 49.60.
Conclusion
Lastly, the FET coin price is performing in an uptrend and the long last target is estimated at around the $1.19 level. The technical indicators summary indicates buy signals and the current price movements are also showing strong bullish candles. At press time, the FET coin price is moving upward and can achieve immediate resistance of $0.83080, and the all-time high level.
Technical Levels
- Resistance Levels: $0.83080, and $1.00
- Support Levels: $0.52624, and $0.46354
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 any other advice. Investing in or trading crypto assets comes with the risk of financial loss.