Analysts Forecast Bullish Future for Fetch.ai (FET) Despite Pullback, See Major Gains Ahead: Key Indicators to Watch
Crypto analysts and influencers are voicing optimism about the future price trajectory of Fetch.ai (FET). This optimism surrounds the ongoing pullback, which some view as a buying opportunity before the next major upswing.
Kicking things off, @rovercrc stated: “$FET is extremely cheap. It is going to hit $20 this cycle. Don’t miss out.”
What you'll learn 👉
Elliott Wave Theory Signals Potential 7x Upside
@CryptoTony__, a trader utilizing Elliott Wave analysis, mapped out a more near-term FET bullish thesis. In a chart breakdown, he identified the retrace lately as the 4th wave in an unfolding 5-wave upward cycle.
The annotations indicate Tony envisions wave (v) propelling FET’s price to the 1.618 Fibonacci extension of wave 3. Though an exact target wasn’t given, he noted: “$1.70 needs to hold to really get this push up to $7.00 I am looking for later this year.”
Consequently, if the Elliott Wave pattern plays out as projected, FET could surge over 3x from the noted $2.0862 price when the analysis was conducted.
What’s Driving the Optimism?
The upbeat projections come amid FET’s steady uptrend since bottoming below $0.30. However, the pullback lately provides a lower-risk entry for traders looking to capitalize on the blockchain’s promising fundamentals.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Fetch.ai is building a decentralized machine learning platform powered by its native FET token. Moreover, FET has an array of real-world use cases, including data monetization and sustainable energy applications.
While past performance doesn’t guarantee future results, the analysts’ forecasts suggest many believe the recent downswing is simply a temporary pause before FET’s next rally leg commences.
Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.
Get all our future calls by joining our FREE Telegram community.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
