Key Price Indicators for FET
- •FET is trading near its long-term macro support level, situated between $0.19 and $0.20. This suggests a period of accumulation rather than distribution.
- •The cryptocurrency is experiencing consolidation within a range of $0.26 to $0.31, indicating a period of market indecision before a potential breakout.
- •Potential upside targets for FET range from $0.60 to $10, provided the price maintains its macro support and demand zones remain intact.
Macro Support Holds for FET
Fetch.ai ($FET) is currently testing a critical higher-timeframe support zone located near $0.19–$0.20. This specific area has historically served as a structural base for the cryptocurrency since 2020. Price action has shown a tendency to rebound from similar levels during significant cycle lows.
The technical chart for FET illustrates a macro ascending channel that has guided its price movement for several years. At present, the price is positioned at the lower boundary of this channel, which is often seen as a high-probability zone for long-term accumulation.
Analysis of trading volume patterns indicates that buyers are actively participating at this price level, which reinforces the significance of the current support. Following a substantial drawdown exceeding 97%, the price behavior observed suggests a phase of capitulation.
Historically, corrections of this magnitude often mark transitions into accumulation phases, rather than indicating continued selling pressure. Market participants are demonstrating resistance to further impulsive lower lows, which further solidifies the structural support zone.
Consolidation and Range-Bound Structure
Examining the 4-hour chart reveals that FET is exhibiting a range-bound structure, with price action fluctuating between $0.26 and $0.31. The cryptocurrency previously experienced a surge from the demand zone between $0.25 and $0.26, establishing a clear base that has been defended on multiple occasions.
Volume patterns observed during this period are supportive of a continuation setup. Following the impulsive breakout, trading activity notably declined during the consolidation phase, which is consistent with a bullish setup rather than distribution.
The Relative Strength Index (RSI) remains in neutral territory, hovering around 45–50, which suggests balanced momentum in the market. Currently, the market is testing the upper boundary of this range, near $0.31.
A decisive breakout above this upper boundary could potentially initiate a push towards higher price targets. Conversely, a drop below the $0.25 level would signal a shift in the current market structure. Traders appear to be accumulating within this zone, awaiting confirmation of the next significant trend.
Potential Upside Targets
If the current macro support levels hold firm, projections indicate that FET could move towards the $0.60 to $1 range. These levels are considered conservative reversion targets, aiming for the midline of the ascending channel.
Drawing from historical patterns, higher-timeframe extensions could potentially drive the price to reach $2.80, $5, and possibly as high as $10. The evident strength of accumulation is further demonstrated by the stabilization of price at the current demand zone.
Consolidation periods that follow major drawdowns are often precursors to significant upward price movements. Market behavior suggests that less committed investors have exited the market, leaving stronger participants to drive potential future gains.
Analysts are observing growing interest at the $0.19–$0.20 price levels. Market discussions indicate that maintaining this support zone is critically important for the realization of long-term bullish scenarios for FET.