FET Crypto Price Set To Skyrocket! What To Watch

The recent performance of the $FET crypto price on the 4-hour chart has shown a notable uptrend, with closing prices moving from $1.43 to $1.485. This progression highlights the cryptocurrency's resilience and potential for further gains. FET’s bullish momentum is supported by the exponential moving averages (EMAs), with the 9 EMA consistently above the 20 EMA, indicating sustained upward pressure.

One of the primary indicators suggesting bullish sentiment is the Moving Average Convergence Divergence (MACD). MACD values, along with the histogram, indicate a strengthening bullish trend. Meanwhile, the MACD line consistently staying above the signal line further reinforces this outlook. This alignment typically suggests that buyers are in control, pushing the price higher.

The Relative Strength Index (RSI) adds another layer of confirmation to this bullish scenario. With RSI values oscillating between 67.26 and 72.71, the #FET crypto price is approaching overbought territory, suggesting strong buying interest. However, it’s crucial to monitor this closely as an RSI above 70 can sometimes precede a short-term pullback.

In terms of price action, FET faces immediate resistance at $1.501. If the price can break above this level, the next significant resistance lies at $1.606, followed by $1.691. These levels will be crucial in determining the strength of the current uptrend. A sustained move above $1.606 could pave the way for a test of $1.691, further validating the bullish outlook.

On the downside, support levels are clearly defined at $1.447 and $1.436. A break below these supports could signal a potential trend reversal or at least a deeper pullback. The $1.365 level serves as a critical support, and a breach here might suggest a bearish shift, potentially opening the door for lower price exploration.
#AI #TrendingInvestments The full analysis and trade strategy were originally posted on www.ecoinimist.com.