💰💰💰Strength requires FET over $1.70, according to Fetch.ai
Since late March, Fetch.ai has fallen roughly 45% as markets fell.
FET bulls must defend $1.70 to maintain the AI coin's rise, demonstrating strength.
The bullish reversal thesis would be invalidated with a break and closing below $1.59.
Trading is unfavorable for Fetch.ai (FET). OCEAN and SIngularityNET (AGIX) integration talk continues.
Fetch.ai pricing may break out, but there's a catch.
The bulls' actions might trigger a breakout for fetch.ai stock, which is in a persistent slump. Bulls must defend $1.70 for inflection to breakout north.
After bouncing over $1.70, Fetch.ai might break above the downtrend line and turn the 50% retracement into support at $1.98. In a bullish scenario, FET price might reach $2.87, a 40% increase from present levels.
If the market range at $3.48, last recorded on March 28, Fetch.ai might rise to the top in a positive situation.
On-chain data support Fetch.ai pricing bullishness.
Santiment data shows social volume and dominance rising, supporting the bullish reversal theory. Social volume is the amount of online talk about a currency or token on social media, forums, and news publications. A larger social volume suggests more interest, conversation, and attention on the asset.
However, social dominance measures how much attention or conversation a cryptocurrency gets relative to others in the market. Social dominance indicates that a cryptocurrency is gaining popularity and attention compared to its rivals.
In addition to social metrics, FET holders have been rising since April 13. This boosts interest and adoption, typically due to favorable developments, visibility, collaborations, or market circumstances.
If the $1.70 support level falls, Fetch.ai might fall to $1.50 or below to retest $1.00 before recovering. In extreme cases, the AI crypto currency might plunge 75% to $0.49, the bottom of the market range.
