Analyst Predicts Green Path for FET
A crypto trader made a prediction on November 15 that FET, the native currency of Fetch.ai, could be heading for a “green path,” signaling a resumption of its recent uptrend. The analyst, @rektcapital, believes that recent price action on the weekly chart indicates strength. Additionally, there is a high likelihood of FET bulls returning and driving prices above the immediate resistance level registered in early November.
FET Showing Strong Bullish Momentum
FET has seen significant bullish momentum in recent weeks. It is up 140% from July 2023 lows and may be gearing up for further gains if prices break above $0.46 recorded in the first week of November. The coin has surged by over 770% from December 2022 lows when it dropped to as low as $0.0570.
Technical analysis shows that FET bounced back from around $0.17, which represents the 78.6% Fibonacci retracement level of the trading range established in the first half of 2023. If FET breaks above $0.46, it could pave the way for a rise to $0.60, marking 2023 highs.
Conclusion
FET is showing signs of strong bullish momentum, with potential for further gains if it breaks above key resistance levels. The analyst’s prediction suggests that FET could be heading for a “green path” and resuming its uptrend in the near future.
By
By
