Fetch.ai Repeats Last Week’s Move; FET Needs to Hit This Retest to Rally

Fetch.ai’s native token, FET, appears to be tracing the steps of its previous price action, setting the stage for a potentially significant resistance test.

According to analyst Rekt Capital, Fetch.ai is literally repeating the same market move as last week. After surging to the $0.46 level where it faced rejection, FET pulled back to successfully retest underlying support around $0.33.

Now, just as it did last week, FET looks poised to follow the same trajectory higher, likely headed for a retest of the crucial $0.46 resistance zone that halted its rally attempt last time.

Rekt Capital points out that this pattern mirrors Fetch.ai’s price action from mid-2021. Back then, FET surged to $0.46, where it failed to break out. On a retest of that level, FET managed to push through and continued climbing to $0.56.

If history repeats, Fetch.ai could be gearing up for an eventual breakabove $0.46 if it can turn the level into support on this retest attempt. However, failing to overcome resistance could see FET draw back once again.

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The coming days will be pivotal for Fetch.ai as it squares up against the $0.46 hurdle. FET appears to be following its bullish script so far. Now it must confirm the pattern by converting resistance into support and maintaining its upward thrust. A successful outcome could open the path for FET to vie for new highs.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!