Fetch.AI price prediction is gaining attention as FET recently broke through a major descending trend line. This technical breakout indicates a possible shift in market sentiment, with traders speculating about a 76% FET rally.
The trend line has long acted as a resistance point, but with this breach, FET’s price prediction has turned bullish. Now, the focus is on whether FET can maintain its position above this key level. Traders are targeting $1.80, $2.20, and potentially higher resistance levels like $2.60.
Holding above the trend line will be critical for the future trajectory of Fetch.AI’s price. If FET sustains this position, there could be room for more gains.
$1.20 – $1.37 Support Zone: Key Level for FET Rally 76%
The price range between $1.20 and $1.37 has significantly affected Fetch.AI’s performance. Historically, this zone acted as resistance, holding back the FET rally. However, recent price movements show that FET is now retesting this range as support.
FET Price Breakout Analysis. Source: JesseOlson
The $1.20-$1.37 zone currently supports the price of FET, leading to a more optimistic outlook for its future. The potential for a 76% rally becomes increasingly apparent if this support remains solid. Should the price sustain this level, FET could then challenge higher resistance points, with $2.20 being the immediate next target.
Consequently, this support level is pivotal in determining the short-term direction of FET. Maintaining it could spark additional buying interest, thereby driving the price to new highs.
Bullish Indicators Signal Strong Momentum for FET
Several technical indicators suggest a bullish outlook for FET. Specifically, the Parabolic SAR signals strong buying pressure with its dots positioned below the price. This observation aligns with other Fetch.AI price predictions, indicating the potential for a rally.
The Relative Strength Index (RSI) is currently at 57, suggesting more room for upside before the token reaches overbought conditions. The MACD, showing a bullish crossover, further indicates growing momentum.
FET USD daily price chart. Source: TradingView
These technical signals suggest that a continued FET rally is possible, with $2.20 being a critical target. Traders are keeping a close watch on these indicators for signs of further upward movement.
On-Chain Data for Fetch.AI Shows Mixed Signals
On-chain data from IntoTheBlock provides a mixed picture for Fetch.AI. As of September 17th, there were 1.73k total addresses, with 418 new addresses and 1.06k active addresses. However, the number of new addresses decreased by 5.64%, and active addresses dropped by 15.58%.
FET Network Activity Trends. Source: IntoTheBlock
In addition, the number of zero-balance addresses fell by 24.02%, possibly indicating outflows or inactive wallets. Despite these declines, the Fetch.AI price prediction remains bullish, as the market continues to show strength.
Fetch.AI Market Activity Remains High, Price Prediction Positive
Fetch.AI’s transaction volume has seen fluctuations in recent days. Volume peaked at 147.28 million FET on September 13th but dropped to 20.75 million by September 17th. The 7-day average stayed at 52.84 million FET, reflecting ongoing market interest.
FET Trading Volume Analysis. Source: IntoTheBlock
According to Coinglass, Fetch.AI’s trading volume increased by 20.56%, reaching $229.41M. At the same time, Open Interest fell by 9.05% to $62.43M, indicating a shift in market positions. Despite this, Fetch.AI’s price prediction remains positive, with volume levels still showing strong activity.
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