Update Fetch.ai (FET) — Bulls Lost Steam, Outlook Isn't Overwhelming!
FET made some nice bullish progress at the beginning of the week when it crossed the resistance at 1.35 and the EMA200 shortly thereafter
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However, it looks like the bulls have lost steam. While most of the market was pumping on Friday and Saturday, FET decided not to participate.
Conversely, it dove below the EMA200 again (also, it unconquered shortly after). Even worse, FET made a lower high on the 4H chart and painted a rather bearish short-term chart setup.
Technical indicators show a mixed picture. Both momentum and trend indicators signal bearish and bullish tendencies.
From a trade signal perspective, nothing spectacular happened on higher timeframes for a while, too.
As a result, FET isn't an interesting trading candidate at the moment. To change that, it has to make a higher high and pump to 1.5 USD.
