Fetch.ai (FET) Targets $2 level: 40% upside targets?

Fetch.ai (FET) combines blockchain with artificial intelligence, aiming to create a decentralized economy of autonomous agents.

Price is Approaching Support, which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken.

Here’s an in-depth look at Fetch.ai’s current market performance and outlook.

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FET Crypto Price Analysis

• Current Price: $1.25
• Market Cap: $3.27 billion
• 24-hour Trading Volume: $160.8 million
• Circulating Supply: ~2.6 billion FET
• Total Supply: 3.41 billion FET

Img src- Altfins

Following a bullish breakout from Falling Wedge pattern, price got rejected near resistance at $1.80, which also lines up with 200-day moving average.

We would be buyers on pullback to $1.10 support, which could be another swing trade entry opportunity with +30% upside potential to $1.50. Stop Loss at $0.96.

Weekly Price Analysis

Fetch.ai’s FET token has seen considerable growth this year, with a current price of approximately $1.25.

The FET token experienced a substantial price increase of over 465% since early 2024.

Trend: Short-term trend is Down, Medium-term trend is Down, Long-term trend is Down.

Momentum is Bearish but inflecting. MACD Line is still below MACD Signal Line but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing an upswing. Price is neither overbought nor oversold currently.

Support and Resistance: Nearest Support Zone is $1.10, then $0.75. Nearest Resistance Zone is $1.50, then $1.80.

Indicators Overview

• Relative Strength Index (RSI): 59 (neutral)
• Support Level: $1.04
• Resistance Level: $1.56

News Roundup

Fetch.ai’s recent successes include several high-profile partnerships, particularly in the areas of smart urban planning, supply chain efficiency, and interoperability with the Cosmos network.

Notably, the platform’s collaboration with Bosch has bolstered its reputation and provided significant growth in value and utility within its network.

Fetch.ai’s market expansion is also supported by its recent $100 million investment aimed at developing Fetch Compute.

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