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- 1 FET price prediction will be highly bullish for the next few months as well as for 2024.
- 2 Fetch.ai price consolidated and formed a strong base.
- 3 FET crypto price struggles to climb above the 50-day and 200-day EMA.
FET price prediction is highly bullish for the short-term as well as for the long-term.
Fetch.ai price has consolidated for quite a long time in the range between $0.1700 to $0.2500. It shows signs of a base formation and buyers are successfully defending the lower range.
FET crypto price tried multiple times to climb above the 50-day and 200-day EMA but the EMAs acted as a hurdle and the price reverted down and continued the consolidation. On a higher time frame, Fetch.ai price structure looks bullish so the possibility of the upward range expansion is high.
At the beginning of September, FET crypto witnessed a massive surge in the buying volume. At the same time, the price reacted positively and rose upward to showcase that some big investors might have injected the money. But the buyers failed to give the follow-up momentum and the up move ended as a trap.
Slowly and steadily, the FET price declined and returned back to equilibrium. Fetch.ai price is trading at $0.2030 with an intraday rise of 0.20%. The 24-hour volume to market cap is 6.27%.
Will the FET Price Expand the Range Upward?
FET price prediction favors the bulls and suggests a significant rise in the coming months. Fetch.ai price has retraced down and corrected a lot from 2023 highs. So, the correction seems to have taken a halt and the price is preparing for range expansion.
Till the FET price is sustained above the $0.1613 level, it is expected to remain in bulls’ grip. However, the probability of the upward range expansion will increase when the price climbs above the EMAs.
The technical analysis suggests Fetch.ai price is in bulls’ grip and likely to perform well in the coming months.
Fetch.ai Price Quite Volatile
Fetch.ai price is quite volatile and fake breakout and breakdown down are high. On the lower side, $0.0613 is acting as a strong support. So minor sell-off is likely to get easily absorbed by the buyers.
The MACD curve generated a negative crossover and the histogram bar is red. It indicates that the price may trade with mild bearishness for some time but the downside risk looks limited.
However, the RSI at 39 reversing upward denotes that bulls are active. So, it will be risky to create shorts.
Conclusion
FET price prediction is highly bullish and suggests a significant rise is possible in the coming months.
The price pattern of Fetch.ai looks bullish and buyers seem active at lower levels. The analysis suggests FET crypto price is near the demand zone so a massive rally might trigger after a $0.2500 breakout.
Technical Levels
- Resistance levels: $0.2748 and $0.3000
- Support levels: $0.1613 and $0.1500
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
