It’s FET analysis time ! #Fetch_ai $FET

1. **Price Action** 📉: The current price of FET is at $2.102, showing a slight decrease of 0.38%. The chart reveals a downtrend, suggested by the arrangement of the moving averages: MA7 is below MA25 and MA99, indicating bearish momentum in recent sessions.

2. **Moving Averages** 📊: The setup (MA7 < MA25 < MA99) generally points to bearish sentiment in the market, hinting at possible further declines unless there’s a market shake-up.

3. **Volume and On-Balance Volume (OBV)** 📉: The OBV line is trending downwards, supporting the view that selling pressure is ramping up. This aligns with the price drop, signaling strong bearish sentiment.

4. **Relative Strength Index (RSI)** 🔄: The RSI readings are in the mid-range (RSI12 at 40.216 and RSI24 at 46.044), suggesting that FET is neither overbought nor oversold. This indicates a lack of strong momentum in either direction, which could lead to sideways movement or market indecision.

5. **MACD (Moving Average Convergence Divergence)** ↔️: The MACD line is close to the signal line, both near zero, indicating a lack of strong momentum and a potential consolidation phase.

In summary, the technical analysis from the chart paints a bearish short-term outlook for Fetch.ai 🐻, with declining volume and bearish moving averages. For a bullish reversal 🐂, look for a crossover in the MA lines, an increase in the OBV, and an RSI rise above 50, signaling stronger buying pressure. Keep an eye on these indicators for possible shifts in market sentiment! 🕵️‍♂️📈