Fetch.ai (FET): Navigating Bearish Momentum and Potential Recovery

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Overview :
Fetch.ai (FET) has faced significant bearish pressure over the past week, aligning with the substructure of blue wave (iii). While the sentiment is temporarily bearish, a recovery is anticipated, with FET likely to climb past $1.74. However, if it breaches the critical support at $1.09, a deeper correction to blue wave alt.(ii) could unfold.

Key Levels to Watch :

Resistance :

$1.74 – A breakout above this level signals recovery.

Support :

$1.09 – A crucial threshold; a breach could lead to a sharper decline.

Deeper Low :

Below $1.09, further correction may target blue wave alt.(ii).


Current Outlook :
The bearish movement is interpreted as a corrective phase within blue wave (iii).
Probability of breaking $1.09: 27%.


Pro Tip :
For traders : Watch for volume confirmation near $1.74 to validate a bullish breakout. Set stop-loss orders near $1.09 to minimize downside risk.

Conclusion and Advice :

FET remains in a bearish consolidation phase, but recovery above $1.74 is expected. Investors should remain cautious of potential downside risk below $1.09. Patience and disciplined risk management are essential as the market seeks clearer direction.