The recent analysis of Fetch.ai (FET) shows promising signs as it approaches its first resistance level at $1.91. The chart indicates a clear downward trendline break, which could signal a potential upward movement in the near future.
Support Level: FET has found strong support around the $1.20 mark, which has been tested multiple times, indicating a solid foundation for the upcoming bullish trend.
Resistance Level: The first significant resistance level is at $1.91. Breaking through this resistance could open the path for further gains.
Trend Reversal: The downward trendline that has been in place since March has been broken, suggesting a potential reversal and the start of a new upward trend.
Technical Analysis:
Support Levels: The primary support level is marked at $1.20, which has proven to be robust.
Resistance Levels: The next target is the resistance at $1.91, a critical point for the continuation of the uptrend.