The Fetch.AI price recorded significant price fluctuations over the past few weeks, indicating a mixed sentiment in the crypto industry. Further, the FET price has displayed a correction of over 3% within the past 24 hours, making it one of the top losers of the day in the market.
The Fetch.AI price traded sideways between $0.6390 and $0.7059 for a brief period, following which the bulls attempted to breakout of the resistance level, but the rally was short-lived as the price faced rejection at $0.7673, resulting in the bears pulling back the price within the range.
After this, the price traded sideways for about during, during which the token displayed significant price fluctuations in valuation. As the market volatility grew, the bulls lost momentum and the price recorded a correction of over 12% in value.
After this, the FET price traded sideways for a while and displayed another loss of approximately 11.5%. Following this, the price made multiple failed attempts before successfully breaking out of the upper level. The SET price then traded between $0.5851 and $0.6390 for about a week, highlighting a cool-off in the price action for the coin.
Recently, the price recorded another breakdown in value, following which it has been trading in a closed range between $0.5228 and $0.5851 and is on the verge of testing its crucial support level of which the outcome is unpredictable.
Will FET Price Go Up?
The MACD displays a decline in the red histogram, indicating a rise in the price action for the coin. Moreover, the averages show a high potential for a bullish convergence, suggesting the price will continue gaining value in the coming days.
If the bulls hold the price above the support level of $0.5228, the FET price will regain momentum and prepare to test its resistance level of $0.5851. Maintaining the price at that level will set the stage for Fetch.AI to attempt to test its upper resistance level of $0.6390 by the coming week.
Conversely, if the bears overpowered the bulls, the FET token will lose momentum and fall to test its lower support level of $0.450 soon. Moreover, if the bears continue to hold power over the bulls, it will further plunge and prepare to test its crucial support level of $0.40 this month.