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Since the price activity in the Fetch.ai market crossed above the middle limit of the Bollinger Bands, it is evident that bulls have sustained their position above this indicator. The upside retracement has persisted for a considerable time, with upside momentum still developing.
Key Fetch.ai Statistics:
Current FET Value: $0.5394
Fetch.ai Market Cap: $439,875,151
FET Circulating Supply: 813,926,383
Total Supply of Fetch.ai: 1,152,997,575
FET CoinMarketCap Ranking: 106
Key Price Levels:
Resistance: $0.5394, $0.5450, and $0.5550
Support: $0.5350, $0.5300, and $0.5250
Fetch.ai Pressures the $0.5500 Resistance Price Mark
FET has continued to retrace higher since bouncing off support at $0.2013, indicating that bulls haven’t encountered formidable resistance. In the current trading session, noticeable price gains suggest strong buyer control.
The upper shadow of the price candle is almost invisible, while the lower shadow is significantly longer as the price approaches the $0.5500 mark. Trading activities remain above the Bollinger Bands’ MA. Additionally, the Moving Average Convergence Divergence (MACD) indicator lines show a sideways trend, avoiding a crossover above the equilibrium level.
FET Bulls Reaffirm Their Dominance
Fetch.ai buyers have established another support above the middle limit of the Bollinger Bands. The new session indicates buyer dominance from the start, with the body of the price candle suggesting a gradual momentum gain.
The increased size and color of the candle compared to the previous session support this observation. Moreover, the MACD indicator has achieved an upside crossover above the equilibrium level, implying a potential upward momentum in the market, possibly propelling prices closer to the $0.5800 mark.
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