According to respected crypto trader David, the artificial intelligence crypto project Fetch.ai (FET) appears to be consolidating just below key resistance.
As the chart shows, FET has returned to the upper end of its recent trading range in the $0.70 area after briefly dipping toward $0.63. David believes Fetch.ai continues building energy here as it pushes against resistance for another attempt at breaking out and eclipsing its all-time high around $1.08.
With FET trading at $0.7096 at last check, up over 12% from yesterday’s swing low of $0.634, the token does appear to be gaining momentum for another push higher. The past 24 hours have seen a range from $0.634 up to $0.729 in building volume.
As long as Fetch.ai holds the higher low support built over the past week in the $0.60s and $0.70 levels, David sees the technical setup favoring the bulls for a sustained upside move. Breaking past the next minor resistance point around $0.73 is the next step to opening space for a run toward $1.
While further choppy consolidation can’t be ruled out, David believes FET continues to coil up for more upside. If its recent activity is any indication, he expects another breakout attempt to manifest sooner rather than later.
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