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Fetch.ai has made a significant move today, claiming the second spot on the daily mover’s list. Its price action suggests the potential for further gains, even after facing initial rejection during the current trading session.
Key FET Statistics:
Current Fetch.ai Value: $0.2722
FET Market Cap: $219,385,833
Circulating Supply of FET: 812,417,729
Total Supply of Fetch.ai: 1,152,997,575
FET CoinMarketCap Ranking: 138
Key Price Levels:
Resistance: $0.2722, $0.2800, and $0.2900
Support: $0.2700, $0.2600, and $0.2500
Fetch.ai Climbs Higher, Defying Initial Resistance
The Fetch.ai market witnessed a bounce off the support level at the $0.2013 price mark just last week. Following this upward correction, price action has maintained its positive momentum. Moreover, today’s trading session seems to have found support around a new level at the $0.2513 price mark. However, it’s important to note that price action initially attempted to secure support at this level but faced rejection.
Meanwhile, the Relative Strength Index (RSI) indicator lines have converged in the overbought region around the 100 level. This convergence might indicate a potential trend reversal, but it’s too early to draw definitive conclusions.
FET Could Maintain Momentum Towards $0.3000
Moving forward, the 4-hour FET market suggests that bulls have begun to establish a strong foothold above the acquired support level. In the previous session, it seemed like price action might break below the established support, but the bulls have made a resurgence and appear prepared to challenge higher price levels.
The Moving Average Convergence Divergence (MACD) indicator’s lines continue to rise despite prior attempts by bearish forces to initiate a trend reversal. A green bar has emerged above the equilibrium level, indicating the potential for sustained upward momentum. As a result, prices may continue their ascent towards the $0.3000 mark.
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