Fetch.ai (FET) Surges to New Annual Peak – Will It Sustain Above $0.60?

The Fetch.ai (FET) Price Surges and Hits New High

The price of Fetch.ai (FET) experienced a significant increase, reaching a new yearly high of $0.62. Although the price has fallen slightly since then, it remains above an important horizontal area.

Fetch.ai Moves Above $0.60

After hitting a low of $0.16 in August, the FET price started to rise and created a higher low in October. The rate of increase has accelerated, with no major retracements. While the rally paused in December, the altcoin experienced a significant surge recently, reaching a new yearly high. However, it has since fallen below $0.60.

What do Analysts Say?

Cryptocurrency analysts and traders are optimistic about Fetch.ai’s future. Crypto Tony believes that the upward movement is just beginning and there is still an opportunity to enter the trade. DavidOnCrypto noted the new yearly high and suggested that the price could increase to the next resistance level at $1. ShitcoinAlchemist is also bullish due to the Artificial Intelligence narrative surrounding Fetch.ai.

FET Price Prediction: How Long Will Increase Continue?

Technical analysts are using the Elliott Wave theory to analyze Fetch.ai’s price patterns. The current wave count suggests that the price is in the fifth and final wave of an upward movement that began in August. If this count is correct, the price could increase to at least $0.72 before potentially experiencing a reaction that will determine the future direction of the trend.

Hot Take: Fetch.ai’s Bullish Momentum Continues

Fetch.ai (FET) has experienced a significant surge in its price, reaching a new yearly high. Analysts are optimistic about its future and believe that the upward movement is just beginning. Technical analysis suggests that the price could continue to increase, potentially reaching $0.72. However, a close below $0.48 would invalidate the bullish forecast and could lead to a significant drop in price. Overall, Fetch.ai’s momentum remains bullish, driven by the Artificial Intelligence narrative surrounding the project.