‏Do not be afraid of the mountain FET, it will not fall $FET #Fetch_ai #BinanceLaunchpool #BlackRock #BTC

Fetch.ai (FET) price is close to noting correction for multiple reasons, including potential selling at the hands of investors. Furthermore, the altcoin is also susceptible to a death cross, which could pull FET down to $1.7. On the other hand, Mallconomy redefines online shopping with a gamified metaverse experience that’s convenient, rewarding, and downright fun. Their $WOOT token keeps the ecosystem running and is available for purchase now.

Fetch.ai Loses Potential Investors

Fetch.ai’s price, at the time of writing, is close to noting a drawdown owing to the declining support from investors. The network growth has dipped to a seven-month low after spiking during the recent rally.

The network growth is used to assess the traction of a project in the market, whether it is losing or gaining. This is calculated by the rate at which new addresses are formed on the network. A decline in the same suggests that potential investors do not see much incentive to participate in the network.

This is probably due to the saturation of profits among FET holders. According to the Historical Break Even indicator, more than 97% of the supply is presently above the price it bought. The remaining 3% is divided among investors bearing losses, i.e., those who bought at an all-time high price.

Thus, this presents a scenario where selling or profit-taking is the more dominant sentiment than HODLing. This is also a threat to the price action as massive dumping could lead to a correction.

Fetch.ai (FET) Price Prediction: $2 Is the Crucial Support

The price of Fetch.ai has seen a drop of 12.7% in the span of a week, with the altcoin sitting at $2.015, close to the support at $1.96. The increasing bearishness at the hands of investors could cause a drop below this support.

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Additionally, the altcoin is vulnerable to a death cross. However, a death cross occurs when a short-term 50-day Exponential Moving Average (EMA) crosses below a long-term 200-day EMA, indicating a potential bearish trend. This could drag FET down to $1.71. On the other hand, the support of $1.96 has been tested multiple times recently but has not been broken down below. If this level remains unbroken, Fetch.ai’s price could bounce back, pushing FET to $2.26. Breaching and flipping it into support would enable a rise to $2.46 and beyond, in effect invalidating the bearish thesis.

Shop, Earn, and Explore with Mallconomy 

Mallconomy is more than just a shopping destination. It’s a community. The platform fosters a space where users can be shoppers, creators, or simply curious explorers. With its unique “Browse-to-Earn” model, Mallconomy rewards users for interacting with virtual stores, making the entire experience even more engaging.

Mallconomy stands at the forefront of a retail revolution. It’s a glimpse into the future of e-commerce, offering a platform that’s not only convenient but also rewarding and fun. So, step into the metaverse and experience shopping like never before. This isn’t just about browsing products on a screen. Mallconomy takes you into the heart of the metaverse, offering an immersive and gamified experience. Explore virtual stores from the comfort of your couch using your smart TV, or dive deeper with a metaverse headset. No matter your device, Mallconomy makes shopping interactive and fun.

Mallconomy ($WOOT) Token

$WOOT is an ERC-20 token on the Ethereum Smart Chain with a maximum supply of 4,000,000,000 (4 billion). It serves as the native token of the Mallconomy ecosystem. Token claiming and the public launch will occur simultaneously once the presale concludes. Details will be announced once the date is confirmed. Stay tuned for announcements on CEXs and DEXs where $WOOT will be tradable.

$WOOT tokens are available for purchase at mallconomy.com. Simply visit the official website, connect your wallet, and choose your preferred payment method, including Ethereum, USDT, BNB, and credit/debit cards. Ensure your wallet has sufficient gas fees, and don’t forget to check the auto-staking feature after your purchase.

The post Fetch.ai (FET) Price Could Witness a Death Cross, Mallconomy Makes Shopping an Adventure first appeared on The VR Soldier.