Fetch AI Breakout Confirmed: Analysts Reveal Bullish Targets For FET Price
21 Novembre 2023 - 9:00PM
NEWSBTC
Fetch AI (FET) has been riding the bullish artificial intelligence
(AI) narrative following Sam Altman being ousted from OpenAI. Its
native FET token has seen an impressive move upward since then,
maintaining its bullish headwinds at the same time. But even after
the altcoin has grown so much, crypto analysts are convinced that
the coin is only at its starting level, and will continue to rise.
Analyst Who Called FET Initial Rise Is Back Again Crypto analyst
Tony The Bull, Founder of CoinChartist, was one of the most vocal
voices for buying FET when the price fell to $0.09 back in 2022.
The coin has since risen more than 5x from this level but even this
has not deterred the analyst, who believes that there is more to
come. Related Reading: Solana Captures Institutional Investors’
Attention, Inflows Rise To $135 Million In a recent analysis, Tony
presented the reasoning behind why he is still bullish on the FET
price. The analyst had previously expected a retracement. But from
the current level, expect the price to increase once more. The
chart shows an initial bounce above the $2.5 mark before a
retracement that takes it back down to around $0.55. Then from
here, there is another bounce upward to over $4 once more. If this
plays out as expected, then the FET price could be looking toward
multiple bounces of over 500% from here. Updated plan
pic.twitter.com/pkfhHBQxCC — Tony “The Bull” (@tonythebullBTC)
November 20, 2023 Fetch AI On Bulls’ Radar In the same vein as Tony
The Bull, another crypto analyst has predicted that the price of
FET is headed for more rallies. The analyst who goes by TradingShot
posted the analysis on TradingView where they revealed their target
for the price. Similar to Tony’s first target, TradingShot expects
a rally that will bring the price above $2. The analyst identified
a Golden Cross on the 1-day (1D) chart, noting that this is the
fourth bullish pattern that has shown up in the FET long-term
channel. Source: Tradingview.com According to the crypto analyst,
whenever such a bullish pattern emerged, the price had already
started moving up. But actually, it is just the beginning as the
main rally often happens after this 1D Golden Cross on the price
chart is noted. Related Reading: Crypto Market Expert Identifies
The Trigger For 600% Bitcoin Price Surge “The 1D RSI’s similarities
of the November 2020 – February 2021 Bullish Megaphone are a
testament that we are on a similar pattern, which then peaked just
below the 1.5 Fibonacci extension. As a result, we remain buyers on
FET, targeting 1.8000,” TradingShot said. FET is currently in a
downtrend after a tremendous run. According to data from
CoinMarketCap, the altcoin’s price is sitting at $0.5 after falling
11.62% in the last 24 hours. FET price sitting above $0.5 | Source:
FETUSDT on Tradingview.com Featured image from DailyFX, chart from
Tradingview.com
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