$FET Price Prediction: Sideways Going Ahead - BeinCrypto Analytics

Following the recent decline that brought FET down from $2.2 to $1.2, the conviction took a hit. Mean Coin Age marked a sharp drop, which is now turning into an uptick. The former is an indication of token movement among addresses, while the latter suggests HODLing.

However, even if the investors are HODLing, they are not too impressed by the current market conditions. Their sentiment towards FET remains bearish still, with the intensity even reaching yearly lows.

This bearishness, coupled with the bullishness arising from FET HODLing, paints a bearish-neutral outlook.

Given the aforementioned cues, Fetch.ai’s price at $1.2 will likely consolidate going forward. The potential limits of this sideways momentum will be $1.7 and $1.0.

These levels have been tested as supportive in the past and resistant more recently. Thus, until the ASI formation takes place in July, the altcoin will remain stuck in these limits.

But if the volatility of the crypto market graces FET, an uptick in price can be expected. If this leads to a breakout from the upper limit of the consolidation, the bearish-neutral thesis would be invalidated.