Fetch.ai (FET) Seems to Be Gearing Up to Reach an Annual High

Fetch.ai’s price activity has further advanced its upside retracement today. The ongoing sessions have produced significant profits compared to those seen in previous trading sessions. Can the current trend see the token hit the already-eyed annual high of the $0.8000 mark?

Fetch.ai Statistics:
Current FET Value: $0.7239
FET Market Cap: $592,225,234
Fetch.ai Circulating Supply: 832,011,949
FET Total Supply: 832,011,949
Fetch.ai CoinMarketCap Rank: 112

Key Price Levels:
Resistance: $0.7239, $0.7500, and $0.8000
Support: $0.7000, $0.6500, and $0.6000

Fetch.ai May Challenge the Technical Resistance at the $0.8000 Mark

Price action in the FET market had earlier bounced off support near the $0.5000 mark. While the previous session saw prices correct moderately downward, the ongoing session showed that bullish momentum is still in play. The size of the last price candle on this chart also suggests that there were a significant number of bullish participants in the ongoing session as price action rose to a new psychological level of $0.7000.

It should be noted that this token now trades above the two sets of the Guppy Multiple Moving Average (GMMA) lines. Likewise, the Stochastic Relative Strength Index (RSI) lines are also attempting another bullish crossover. Should the crossover be achieved on the RSI, more traders may go long, thereby strengthening the uptrend in the market.

FET Retains Optimism About Further Price Increases

In the Fetch.ai 4-hour market, it can be seen that bulls are looking refreshed, even after achieving such an impressive price increase. The last price candle on the FETUSDT 4-hour market appears to lack an upper shadow. This shows that more buying is ongoing in the market. Price activity remains above the GMMA indicator lines, while the SRSI indicator lines have resumed an upside course in the overbought region.

As it is, the market looks prepared to take on the resistance at the $0.7500 mark, which is a much closer range. However, looking at this market from a daily time frame, one will agree that the market may go beyond the $0.7500 mark. Consequently, this suggests that traders can use Fetch.ai crypto signals with targets around the $0.8000 mark.

Trade crypto coins on AvaTrade