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- 1 FET price prediction suggests this AI token might perform well in the coming months.
- 2 Fetch.ai crypto holds the gains of last month despite the correction in crypto leaders.
- 3 FET token price is stuck in the narrow range of consolidation.
FET price prediction stays bullish for January 2024 and suggests upward range expansion may be visible. Fetch.ai continues to trade in a narrow range despite a sell-off in the overall cryptocurrency market. It shows the strength of bulls and the confidence of investors in the future outlook of this crypto.
The price of this token is sustaining above the 50-day and 200-day EMAs. It showcases that the short-term trend and the positional trend are in the upward direction.
For the last few weeks, FET crypto has been spending time in the narrow range between $0.6000 to $0.8000. It seems like buyers are preparing for another attempt to break the higher range. If they succeed, a sharp move may be visible.
Moreover, the range breakout will trigger the rally and it may take the price beyond the $1.00 mark. However, if the price faces rejection, it might again retrace back to the 50-day EMA.
Currently, the pair of FET/USDT is trading at $0.7063 with a decrease of -2.73%. In the last 24 hours, the trading volume increased by 14% and volume to market cap ratio stands at 0.1935.
FET Price Analysis: Bulls Keeping Eye on $1.00
FET price is on the buyers’ radar and bulls are continuing their dominance. The chart pattern of this crypto suggests that a sharp rise may be visible anytime.
Till the Fetch.ai price is sustaining above the $0.6100 level the buyers will remain active. So, the downside risk looks limited. Therefore, investors should look to play bullish bets and stay with the trend.
The technical analysis hints that bulls are marching toward $1 and the probability is high they will achieve it by January end.
Fetch.ai Price is Bullish on Multiple Time Frames
Fetch.ai price is bullish on a daily and weekly time frame. By analyzing the price behavior it can be said that bulls are strengthening their grip and more upward is possible.
The MACD curve sloping sideways indicating that price may consolidate for some more time before resuming the rally. The RSI at 54 denotes mild bullishness and more room for upside is open.
Conclusion
FET price prediction remains bullish till it holds the $0.6000 support. The chart pattern of Fetch.ai suggests that bulls are active and likely to show range expansion in the coming months. Therefore, it’s better to play long and stay with the trend.
Technical levels
- Resistance levels: $0.7919 and $1.0025
- Support levels: $0.4640 and $0.3000
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.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
