Fetch.ai Price Gains Steam with Bullish Signals for Potential Upside

The #Fetch.ai price has shown notable activity on the 4-hour chart, indicating potential trading opportunities. Over the past 48 hours, $FET has experienced a gradual ascent, with closing prices moving from $1.633 to $1.691 before stabilizing around $1.669.

The Exponential Moving Averages (EMAs) provide a bullish signal, with the 9 EMA consistently rising above the 20 EMA, a classic indicator of bullish momentum. This positive divergence is further confirmed by the Moving Average Convergence Divergence (MACD) which has moved from a neutral to a positive territory, indicating growing upward momentum. The MACD histogram, expanding in the positive range, complements this view. This suggests that bullish momentum is building.

#FET is currently testing a critical resistance at $1.71. A sustained break above this level could open the door to further gains, with the next resistance levels identified at $1.727 and $1.758. Conversely, if the price fails to breach this resistance, it might retest support levels at $1.631, $1.554, and $1.537. These levels will be crucial for traders to watch, as a breach below could indicate a short-term bearish reversal.

The RSI, currently hovering around 65, supports the bullish outlook, remaining below the overbought threshold of 70. This suggests there is still room for upward price movement before the asset becomes overextended.

Given the bullish indicators, traders might consider entering long positions if FET sustains above $1.71, with potential targets at $1.727 and $1.758. Stop-loss orders could be strategically placed just below the $1.631 support to manage risk. For those looking at short opportunities, should the price fall below $1.631, setting targets near $1.554 and $1.537 could be feasible, with stop-loss orders just above $1.631. #altcoins #TrendingInvestments
The full analysis and trade strategy were originally posted on ecoinimist.com.