FETUSD – Buy it while it's still affordable!
Fetch.ai (FETUSD), part of the Artificial Superintelligence Alliance, has been trading in a 4.5-year upward channel since the March 2020 market bottom. Following the 2022 inflation crisis and its low in November 2022, it entered a new phase in this bullish trend, marking the beginning of a new bull cycle. This new phase shows strong symmetry with previous bullish legs, with pullbacks typically reaching the 0.5 Fibonacci retracement level before rebounding.
Currently, Fetch.ai is in the final stage of this channel, finding support at the 0.5 Fib level and maintaining the 1W MA100 (green trend-line) since the August 5 low. This setup suggests it’s gearing up for another significant rebound. Given the percentage increase from previous bullish legs, we’re targeting a minimum rise of +1050%, with a price target of $8.00.
Additionally, the MACD squeeze after the last two bullish crosses signals a bottom, reinforcing the potential for a rally.
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