Fetch.ai (FET) Price Prediction – When will FET hit $1?
Fetch.ai, an interchain protocol based on the Cosmos software development kit (SDK) and artificial intelligence (AI) blockchain environment, is especially interesting. It lets users build their own networks of autonomous market participants inside a single blockchain.
Even though it was started in 2017 and released in March 2019, it has only recently been getting more attention. This is because of its rapid expansion, which started a week ago thanks to the crypto pump, but also because the public has learned about its use as an interchain bridge and collaboration on the Autonomy of Things (AoT). And it gains popularity among top-tier AI creators like those behind ChatGPT.
Let’s see the Fetch.ai (FET) Price Prediction from the Fetch.ai (FET) technical analysis:
Fetch.ai (FET) Bullish Trend Is Solid
On the weekly timeframe, three consecutive bullish candles are seen with a cumulative gain of 214%. Moreover, the latest weekly candle shows a stable price above the 0.2000 key psychological level. Therefore, the primary intention for this pair is to look for buying opportunities until there is a strong reversal in the weekly chart.
On the daily price, a strong consolidation phase is completed after 6 months. Bears failed to take the price below the 0.0526 support level from where the buying pressure appeared. Moreover, a bullish Quasimodo formed from this level made it a valid bottom. On the upside, the bullish liquidity grab and downside pressure were seen from the 0.5403 level, which will be the top of the current tradable range.
If we draw a Fibonacci level from 0.5402 high to 0.0526 level, we will find the 0.2853 level as a 50% retracement area. As the current price is trading below the 0.2853 level, bulls may find enough space to take the price higher.
Now come to the volume part. From November 14 to January 22, the highest trading volume level was spotted at 0.1029 level, which is below the current price. It is a primary signal that institutional investors have joined the market and are still interested in this instrument. Therefore, as per the volume structure, investors should focus on long opportunities until a high volume bearish pressure appears.
In the indicator window, the ADX shows the strength of the trend where the current level is below the 80.00 area. ADX level above the 20.00 area is considered as a strong trend, which may extend until there is a downside correction.
Based on the daily and weekly Fetch.ai Price Prediction, the strength of the bullish trend is solid. However, it is not logical to buy at higher prices even if the trend is strong. Investors should closely monitor the lower timeframe price action- usually a proper bullish rejection from the valid zone before joining the buying sentiment.
Fetch.ai (FET) Ichimoku Cloud Analysis
The bullish trend continuation opportunity is visible from the H4 timeframe. After making a bullish breakout about the Kumo Cloud the buying pressure has become solid as shown in the above chart.
Instead of coming down, the price keeps pushing higher by making lower highs. The making of higher highs with a solid bottom and a stable momentum about the cloud support perfectly matches the higher timeframe’s trend direction as shown in the above chart.
If we look at the future cloud we can see the Senkou Span A and Senkou Span B push higher with a strong gap. It is a sign that short-term and medium-term balls are active in the market which is a sign of a strong trend, which is a sign of a strong trend.
In the Traders Dynamic Index indicator, we can see the current TDI line move above the 60.00 level which is a signal of a stable by pressure.
Based on the 4-hour Fetch.ai (FET) Coin Price Prediction, the buying possibility is solid, but a minor bearish correction and bullish candlestick formation from 0.2649 to 0.2380 area could have a high-probable buying opportunity. In that case, the ultimate target would be to test the 0.4000 key psychological level.
However, breaking below does 0.2117 level could increase the volatility to the price higher and investors should monitor the price action before taking further decisions.x
Fetch.ai (FET) Intraday Price Action Analysis
In the previous section, we have seen that the buying opportunity is valid on a daily H4 timeframe. In this section, we will justify the buying pressure by closely observing the 4-hour price action.
As per the volume structure, the highest trading volume from the visible range is at 0.0955 level, which is below the current price. Moreover, the buying momentum from the high volume level is supported by intraday high volume levels.
The dynamic 20 EMA, and weekly VWAPs are also working as confluence support levels, just below the latest H4 candlestick. The indicator window shows the same story where the MACD EMA’s are preparing for another bullish breakout.
Based on the H4 Fetch.ai (FET) Price Forecast and volume structure, the bullish possibility is solid until a significant low appears below the 0.2117 level. Otherwise, the buying momentum is valid towards the 0.4000 area.
Is Fetch.ai (FET) A Buy?
Based on the Fetch.ai (FET) Fetch.ai price today, a minor bearish correction in the H4 timeframe might create a buying opportunity. The higher timeframe price action and long-term volume structure are solid for bulls, which could offer a decent return from this token.
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