FET Positioned for Potential Rally as Key Resistance Breakout Approaches
The post FET Positioned for Potential Rally as Key Resistance Breakout Approaches appeared on BitcoinEthereumNews.com.
Fetch.AI (FET) is poised for a substantial price surge, as recent trends indicate bullish strength amid increasing on-chain activity. The asset currently consolidates around $1.33, creating anticipation for a potential breakout above critical resistance at $1.38. According to insights from COINOTAG, a successful movement above $1.38 could drive FET’s price up by 20-30%, reflecting strong investor sentiment. Fetch.AI (FET) is showing bullish potential with price surge predictions as on-chain activity and technical signals signal a promising upward trajectory. Is a breakout above $1.38 on the horizon? All eyes are on Fetch.AI (FET) as it currently trades within a descending channel, targeting the pivotal resistance level at $1.38. Breaking this threshold may trigger a substantial price increase, propelling FET toward $1.60. Historical price movements indicate that FET has capitalized on similar setups previously. To confirm a successful breakout, significant trading volume and bullish momentum are imperative to attract heightened investor interest. Source: TradingView On-chain activity shows growing engagement Recent metrics indicate that Fetch.AI is experiencing a notable uptick in network activity, with new addresses surging by 47.36% and active addresses increasing by 12.46% over the past week. This spike in activity underscores growing investor confidence and adoption, which historically has a correlational effect on price hikes. Source: IntoTheBlock How exchange reserves signal market sentiment The current exchange reserves for FET have incrementally increased by 0.12%, totaling 471.4 million FET. This slight increase denotes a cautious approach among traders, holding onto their assets. Traders should monitor these reserves closely; a decrease could suggest accumulation and thus pressure to drive prices higher. Source: CryptoQuant FET technical indicators hint at possible momentum FET’s technical indicators reflect a mixed outlook. The moving average (MA) crossover suggests a potential upward movement, contributing to bullish sentiment. Conversely, the Average Directional Index (ADX) reads at 15.76, signaling weak…
Filed under: News - @ December 31, 2024 4:22 am