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FET Price Continues to March Toward $1; Fetch.ai Still Bullish

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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 Continues to March Toward $1; Fetch.ai Still Bullish
Source: FET/USDT daily chart by Tradingview

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

Source

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About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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