Ocean Protocol

Resistance

Fetch

<p>Fetch.ai’s FET token is positive this week with a 20% price surge so far, according to analysis from <a href="https://www.tradingview.com/chart/FETUSD/ehMjMZGH-Is-5-The-Next-Stop-for-FET/" target="_blank" rel="noopener noreferrer nofollow">Coinpedia on Tradingview</a>. The rally has seen FET reach a new all-time high of $3.34 before pulling back slightly to $3.0993 at the time of writing.</p>
<p>In their technical analysis, Coinpedia’s team points to FET’s breakout above a key overhead resistance trendline as a catalyst for the upward momentum. With a market capitalization over $2.6 billion and 67% spike in trading volume, demand for the AI cryptocurrency is clearly on the rise.</p>
<p>“FET’s price action includes a breakout above the critical overhead resistance trendline,” the analysts stated. “This sets FET up to challenge the 50% Fibonacci retracement level at around $3.39 as the next upside target.”</p>
<p>They identify a higher Fibonacci extension level near $4.44 as a longer-term objective should bullish momentum persist.</p>
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<p>On the daily charts, the analysts see a rounding bottom reversal formation as supporting the continuation of FET’s bullish trend. FET is also challenging the upper boundary of the Bollinger Bands, a volatility indicator, signaling the strength of the current upswing.</p>
<p>However, one note of caution is the Moving Average Convergence Divergence (MACD) indicator, which shows a potential negative crossover around the $3.39 level. This hints at some supply pressure that could stall FET’s rally, at least temporarily.</p>
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<p>Several catalysts are driving FET’s latest price rise according to the analysts. The token has seen a boost from the recent buzz around a proposed merger between the AI projects Fetch.ai, SingularityNET, and Ocean Protocol to create a new AI data/computing powerhouse.</p>
<p>Broader anticipation in the crypto markets for Bitcoin’s upcoming halving event in April is also contributing to the overall bullish sentiment lifting altcoin prices like FET.</p>
<p>The report concludes that while some volatility is likely, a decisive breakout above $3.39 could clear the path for FET to target the $4.44 level based on the technical readings.</p>
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<p>The post <a href="https://captainaltcoin.com/fetch-ai-analyst-points-to-next-price-targets-for-fet-following-overhead-resistance-trendline-breakout-and-key-partnership/" rel="noopener noreferrer nofollow">Fetch AI Analyst Points to Next Price Targets for FET Following ‘Overhead Resistance Trendline’ Breakout and Key Partnership</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Fetch AI Analyst Points to Next Price Targets for FET Following ‘Overhead Resistance Trendline’ Breakout and Key Partnership

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