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- 1 Fetch.ai crypto price is up over 1.25% in Intraday and currently trades at $0.586.
- 2 The FET crypto price slumped below the 50-day EMA, showing weakness over the charts.
The Fetch.ai crypto price continued to drift lower on the fifth consecutive day and is going to start the week in the red. The daily chart shows the dominance of bears in the recent sessions, which has pushed the buyers on the back foot.
Moreover, the daily chart shows that the FET crypto is now hovering below the 50-day EMA, signifying weakness and lack of buying volume over the charts. The crypto has erased nearly 15% in the last five sessions and has currently dropped near the monthly low.
At the time of writing, the FET crypto price hovers near $0.586 with a negative development of 1.25%. The crypto has a total market cap of $489.189 Million and ranks 111th in the overall crypto market. At press time, the 24-hour volume was 32.427 Million with a slight drop of 0.94%.
Fetch.ai Crypto Price Trend Analysis
Despite losing in the short term, the FET crypto has gathered a return of over 138% in the past three months, suggesting a strong outlook in the long term. The crypto has come all the way from $0.24 in mid-October to a peak value of $0.78 in the 1st week of January.
However, the past 2 to 3 weeks have been volatile for the FET investors as the price is moving back and forth above the recent swing low and is not able to decide a clear direction.
Currently, the Fetch.ai crypto price has fallen below the 50-day EMA, indicating a price correction in the recent sessions. Also, a declining channel was observed on the charts.
Now, the short term is dominated by the sellers and the price has broken below the 50-day EMA. The price may correct more in the coming sessions until it is maintained in the channel.
The breakout above the channel may indicate the end of correction and the buyers may show interest thereafter.
Moreover, the RSI lines have made a bearish crossover, indicating negative sentiment in the short term. At press time RSI was at 40.35 points and that of the SMA line was at 48.02 suggesting a correction ahead.
FET Crypto Prediction January 2024
As per the most optimistic view of our analysts, the FET price could reach a high of $0.692 by the end of the month. The bearish view of analysts hopes for a breakdown below the recent support of 0.588 level. After that, the price may drop to a low of $0.5 and 0.45 level.
FET Crypto Price Prediction 2024
The price prediction for 2024 shows that Fetch.ai crypto may advance to a high of $1.02 by the year-end. The less optimistic analysts estimate a price target of $0.816 by the end of year 2024.
FET Crypto Prediction 2025
On the most bullish observation, Fetch.ai crypto could gain to a high of $1.46 in the year 2025. On the flip side, the most pessimistic prediction of our analysts is for the price to reach $1.12.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
