$FET analyst predicts a 565% hike – Should you bet on it today? - AMBCrypto Analytics

AMBCrypto’s recent review of FET’s price action shows the cryptocurrency is trading within an ascending triangle, on the brink of a breakout. This pattern, defined by a horizontal support and a diagonal resistance line, often signals a forthcoming substantial price movement. Currently, FET sits at the resistance line, ready to break out and potentially initiate a major price swing.

Analysis using the Fibonacci retracement tool highlights five critical targets for the expected upward movement: $1.763, $2.091, $2.419, and $2.886, with a peak target at $3.480, adjusted downward by $0.46 a slightly lower peak target from analyst target of $3.906. 

Conversely, should the market sentiment turn bearish, the asset could drop to $0.702. The optimistic outlook is reinforced by the Relative Strength Index (RSI), which stands at 60.96. An RSI reading above 50 typically indicates that bulls dominate the market, suggesting that FET’s price may continue its upward trajectory.