Fetch.ai (FET) Tests the $0.6500 Mark but Faces Challenges from Bears

Fetch.ai has genuinely broken out, surging through multiple resistance levels. Today’s trading session has been notably profitable, with the token experiencing an increase of over 10.56%. Let’s explore what might unfold in this market shortly.

Key FET Statistics:
Current Basic Fetch.ai Value: $0.6268
FET Market Cap: $523,162,481
Fetch.ai Circulating Supply: 824,092,499
Total Supply of Fetch.ai: 1,152,997,575
FET CoinMarketCap Ranking: 101

Key Price Levels:
Resistance: $0.6268, $6300, and $0.6400
Support: $0.6200, $0.6100, and $0.6000

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Fetch.ai’s Attempt to Break the Resistance at the $0.6500 Mark Gets Rebuffed

As mentioned earlier, the FET market has been surging since yesterday’s trading session. The significant price increase seen yesterday remains intact, although today’s profits have been reduced by downward forces. Despite the generally bullish session, trading activities continue at a significant distance above the 21-day MA line.

The current price candle for the ongoing session sits just atop the $0.6000 mark. Additionally, the Moving Average Convergence Divergence (MACD) indicator lines have converged for a bullish crossover. Consequently, this aligns with the prediction that price action may gain more traction as trading continues.

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FET Bears Pose a Serious Challenge to Continuing Upside Retracement

In the Fetch.ai 4-hour market, price action has witnessed a substantial increase. However, the latest trading session, as depicted by the corresponding price candle, has shown a moderate downward correction.

Although price activities are still occurring above the MA line, it’s noticeable that the MACD indicator bars indicate the downward correction has a weakening effect on upside forces, with the last bar of the indicator now pale green. Nevertheless, the lines of this indicator still maintain an upside trajectory above the equilibrium level, indicating that bulls still have the chance to push prices through the $0.6500 resistance level.

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