🚀 Fetch.AI (FET): Ready for a Breakout? 🚀

Hey guys! Let's dive into the daily chart of $FET and see what the technicals are telling us! 📊

🕵️‍♂️ Key Indicators:

Price: FET is currently trading at $1.417, showing signs of recovery with a +4.81% increase over the day.

EMA (50 & 200): The price has just broken above the 50-day EMA (1.168) and is approaching the 200-day EMA (1.377)—a critical level for mid-term traders! A close above this could indicate the start of a bullish trend!

📈RSI (14): Currently at 68.66, the RSI is climbing towards overbought territory but still has room to push higher. This is signaling momentum, but caution is warranted if it surpasses 70—this could indicate a potential pullback.

MACD: The MACD is bullish, with a recent bullish crossover just starting to form. With the histogram showing green bars, momentum is building.

💡 Strategy:

Entry Point: If you're looking to enter a position, a confirmation above the 200-day EMA (1.377) would be ideal. A close above this level could trigger a breakout, opening the door for an extended rally.

📈Exit Point: Targets could be set at 1.50 and 1.75, as these levels showed significant resistance in the past.

Stop Loss: Given the recent volatility, it would be wise to set a stop-loss below the 1.25 mark (just under recent lows) to protect yourself from downside risks. This would help limit potential losses while allowing room for growth.

🔥 Potential: If FET can hold and break past these key levels, it could continue its upward trend. Momentum is building with a clear bullish reversal pattern emerging.

Happy trading, and always remember to DYOR before making any financial decisions! 📚💰

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