- The trading volume of Fetch(dot)ai has increased by 70% in the last 24 hours.
- FET crypto price is struggling to surpass the $3 hurdle.
According to the technical chart, the FET price has been bullish and witnessed a sharp directional move. The price rose by approximately 300% in a month indicating the complete domination of bulls. The has recorded an all-time high of $3.13 on March 10, 2024.
Last week, the Fetch.ai (FET) crypto price has struggling to sustain the $3 hurdle. Two days ago, the FET price faced resistance from the $3 mark, dropped by 15%, and melted to the 20-day exponential moving average. But the bulls managed to defend the 20-Day EMA and lifted the price by 20% in a day.
At the time of writing, the FET crypto price was at $2.74 with an intraday loss of 2.40%. The market capitalization is $2.30 Billion and the treading volume is $798.91 Million. The circulating supply is 839,674,997 FET and the total supply is 1,152,997,575 FET.
Fetch(dot)ai Crypto Price vs Volume Analysis
According to the graph of price vs volume, the volume has increased from $350 Million to $798 Million in the last two days but the price has not approached the last swing high. According to this data, the rise in trading volume of more than 100% indicates a bullish forecast and the price may perform positively in the next few sessions.
FET Price is Near an All-time High; What’s Next?
Based on the chart, the Fetch(dot)ai crypto is near an all-time high and bulls are trying to overcome the $3 hurdle but sellers seem to be in equal numbers given the number of buyers. After a weak selling pressure, it seems that the price is trying to trigger a pullback.
If the Fetch price rises and manages to surpass the $3 hurdle then the buyers may dominate and record a new all-time high. If the trading volume increases and the price sustains over the $3 mark, then bulls may lead the trend for the next few days or weeks.
Suppose, the Fetch.ai crypto price drops and fails to defend the 20-Day exponential moving average then investors may prefer to book which may lead to a negative momentum. If the price slips below the $1.75 mark and sustains then sellers will drag down the price to the 100-Day exponential moving average.
Technical Analysis of FET Crypto Price Over 4-H Timeframe
In a 4-H time frame, the Fetch.ai price has been consolidating near the top and currently facing resistance from the $3 mark. The price has shown price rejection from the resistance level and dropped by 5.60% in the last 12 hours. If the price slips below the 20-Day EMA, then it may easily melt to the 100-Day EMA.
Alternatively, if the FET bounces back and surpasses the resistance level of $3 then buyers may show interest and will decide the further move. Suppose the price records a new all-time high and buyers remain positive then they may take the price to the $4 mark soon.
Notably, the RSI is declining from the overbought zone indicating that selling pressure can be expected.
Conclusion
The FET price has witnessed strong buying pressure and risen by 328% in a month. The price is struggling near the $3 mark and buyers do not seem to be strong enough to lift the price over the resistance level. It has triggered a pullback and the price is heading for a new all-time high. If the price starts trading over the $3 mark, then buyers will gain momentum and lead the up trend. On the other hand, suppose the price declines and slips below the 20-Day exponential moving average, sellers may dominate.
Technical Levels
Resistance Levels: $3.10 & $2.85
Support Levels: $2.40 & $1.80
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.