Will Fetch.ai (FET) Finally Smash Through Key Resistance on the Way to $1?

January 11, 2024

Fetch.ai Regains $0.70 Level, Analyst Shares Flipping This Resistance Can Push FET to $1

Fetch.ai, a machine-learning decentralized finance project, has crypto traders buzzing about the potential for fresh all-time highs in the near future.

The native FET token sits in the $0.70 region currently after several failed breakout attempts in recent weeks, per trader David. He highlights lingering overhead resistance just above current levels that could give way to accelerated upside if overcome.

Indeed, analyst Scient points to an “original setup nearly playing out fully” that would imply upside targets of $1 and possibly beyond. After identifying promising entry signals around $0.60, Scient notes FET has achieved two partial profit-taking zones already.

Now with FET rallying 18% off its identified trigger point, Scient spies a break of the 4-hour technical downtrend. This could pave the way to new highs if further rejection does not emerge first.

As with previous rallies losing steam around the $0.70 zone, traders seem keen to see FET push through without significant setbacks. Scient suggests any retest of short-term moving average support near $0.65 or so would offer another low-risk accumulation zone for savvy traders.

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But with bullish momentum building over several weeks, conditions appear ripe for Fetch.ai to tackle resistance levels, which have turned it back multiple times recently. A decisive breakout could target the $1 threshold called out. From current levels, that would imply 50%+ upside potential from what’s already a sharp uptrend underway.

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