The FET coin displayed a golden crossover and registered a rally, which led to a curse for the bears who had made short positions. The coin has registered a sharp bullish rally, and a rebound from the 20-day EMA support mark led to a surge of over 100% this week. Following the market surge, Fetch. Ai was one of the top gainers who acquired investors’ interest and replicated cues of institutional buying activity.
The coin has climbed sharply above the key moving averages and reached the top above $0.9000. Additionally, the bulls intend to sustain above the round mark of $1 to claim shortly and will continue to stretch the rally. Amid the higher highs, profit booking may be activated anytime, and investors need to keep an eye on the $0.9400 mark. Until the mark is not breached, the rally will continue.
The Fetch. Ai coin (FET) price was $0.9862 at press time, with an intraday gain of 4.28%, showing bullishness on the charts. Moreover, the trading volume increased by 44.89% to $343.83 Million. The pair of FET/BTC is at 0.0000192 BTC, and the market cap is $2.09 Billion. Analysts are bullish and suggest that the Fetch.Ai (FET) coin price will continue to rise and may sustain above the round mark of $1 soon.
FET Witnessed Buyer Accumulation On Daily TimeFrame
On the daily timeframe, the coin witnessed a massive rebound from the 50-day EMA mark and noted a golden crossover, resulting in a tremendous rally. The mighty bear cartel is trapped, has covered their positions because of the sharp rally, and is staying on the backfoot.
The Relative Strength Index (RSI) curve is in the overbought zone and delivers a retracement in the last sessions. Similarly, the MACD indicator shows a bullish crossover, and suggests an outperformance outlook for the upcoming sessions.
FET Exhibits Range Breakout On Weekly Charts
FET coin witnessed a range breakout followed by a golden crossover which resulted in a sharp bullish rally. However, the blue sky zone is yet to crack, and bulls are willing to jump above it to unlock space toward $1.50. Per the Fib levels, the coin has jumped above the 78.6% zone and is heading to reach the 100% zone.
Summary
The Fetch. Ai coin (FET) displays an intense buying momentum and is close to the round mark of $1, but needs a retracement to kick off the zone. Furthermore, cues of profit booking are reflected, which may take the coin toward the prompt support zone of $0.9200 shortly.
Technical Levels
Support Levels: $0.9500 and $0.9200
Resistance Levels:$1 and $1.10
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
Source: https://www.thecoinrepublic.com/2024/02/21/fetch-ai-fet-rallied-over-100-this-week-whats-cooking-in-it/