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Fetch.AI (FET) is turning heads as it steadily regains momentum after a strong rebound from the $0.452 level. This key support held firm, allowing bulls to regain control and drive prices higher. With buying pressure gradually increasing, FET’s recovery is gaining traction, hinting at a potential breakout if momentum continues to build.
As FET’s price action begins to reflect renewed confidence, the market is buzzing with speculation about its next move. With technical indicators pointing to upward strength and trading activity on the rise, its resurgence could mark the beginning of a significant turnaround. Will this rebound be the catalyst for a sustained rally?
Analyzing Price Action: Signs Of a Sustained Uptrend?
FET’s price has shown impressive resilience after rebounding from the $0.452 level, with bullish momentum steadily driving prices higher. However, the key question remains—can this rally sustain itself, or is it just a temporary bounce before another pullback?
The $0.452 level proved to be a critical support zone for FET, acting as a springboard for its recent price recovery. This level halted further declines and provided a solid foundation for buyers to step in, signaling strong demand at lower price points.
Technical analysis reveals several promising signs for FET as the price approaches a critical breakout level. FET is on the verge of surpassing the 4-hour Simple Moving Average (SMA), a key indicator that signals a shift in market sentiment. A decisive break above this level could bolster further price expansion.
A noticeable uptick in trading volume has accompanied FET’s price recovery, indicating growing interest and participation from traders. Higher volume during an uptrend is often a strong indicator of sustained strength as it reflects increased buying pressure.
Potential Price Targets: How Far Can FET Rally Go?
Despite the encouraging signs, the coin’s path to a sustained uptrend has seen challenges. The token must maintain momentum and overcome higher resistance levels to confirm a lasting recovery. However, external factors such as macroeconomic conditions and overall market volatility may threaten its progress.
FET’s first major target lies near the $0.80 psychological level, a key barrier that could trigger profit-taking or accelerate buying pressure. Breaking above this mark is likely to spur a move for FET toward $1.09, where previous price action has shown notable resistance.
On the downside, a failure to clear key resistance levels might trigger a pullback, leading to a potential retracement to crucial support zones. The $0.452 support could serve as a buffer, but if bearish pressure intensifies, a retest to $0.057 is probable, which previously acted as a strong rebound point.
Featured image from YouTube, chart from Tradingview.com
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