- FET’s price has risen 6.57% over the last 24 hours according to CoinMarketCap.
- The altcoin’s price may retrace back down to $0.1889 in the coming weeks.
- Weekly technical indicators for FET are still flagging bullish.
Fetch.ai (FET) saw its price rise over the last 24 hours according to the crypto market tracking website, CoinMarketCap. At press time, FET’s price is up 6.57% over the last 24 hours. As a result, FET is changing hands at around $0.241.
In addition to strengthening against the U.S. Dollar, FET has also strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 4.71% and 3.84% respectively.
Trading volume for the altcoin has, however, dropped over the last 24 hours. At press time, the total daily trading volume for FET stands at $76,340,229, which is 17.22% lower than yesterday.
Weekly chart for FET/USDT (Source: CoinMarketCap)
The price of FET has flipped the weekly resistance level at $0.1889 into support and attempted to do the same with the next resistance level at $0.2604. Unfortunately, this attempt was rejected over the last 2 weeks.
The 9-week EMA line is still positioned above the 20-week EMA line, which suggests that there is still some bullish support present for the altcoin. The recent rejection from the $0.2604 level may see FET’s price retrace back to $0.1889 before entering into an upward move to break the $0.2604 resistance.
This bullish thesis is supported by the weekly RSI indicator as well. Currently, the weekly RSI is positioned above the weekly RSI SMA line. In addition to this, the weekly RSI line is sloped positively toward the overbought territory.
On the other hand, if the support level at $0.1889 fails to hold, then FET’s price could drop to a low of $0.1020 – the next closest weekly support level.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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