Fetch.ai (FETUSD) Price to Retest the $0.5875 Resistance Level
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Fetch.ai (FETUSD) Price Forecast: February 11
FETUSD may likely increase further to the upside to retest the $0.5875 resistance level if the current support level at $0.3654 holds. The next upward rally target might be the $0.7000 supply trend level.
Key Levels:
Resistance Levels: $0.4000, $0.3000, $0.2000
Support Levels: $0.3000, $0.2000, $0.1000
FET (USD) Long-term Trend: Bullish (Daily Chart)
FETUSD indicates an upward trend with a bullish sentiment in its long-term perspective. The coin is trading above the two EMAs. However, the market is presently facing resistance at the recent high.
The sustained bullish pressure pushed the currency pair up to the $0.5875 supply level during the previous action and supported it. This has enabled the coin to remain firm in an uptrend.
Earlier today, the bulls made an increase in the price of Fetch.ai to a high of $0.4205 level above the moving averages. This suggests that the bulls remain dominant in the market at present.
A further downward is unlikely as the momentum indicator is pointing up at around level 47%, this means that the price may likely remain in an uptrend and the $0.7000 resistance value may be the target as the market remains bullish in its long-term perspective.
FET (USD) Medium-term Trend: Bullish (4H Chart)
Fetch.ai remains in a bullish trend in its medium-term outlook. The coin prices are traded above the EMA-9, this confirms a bullish trend.
The bulls made a smooth run to a high at the $0.4197 value above the EMA-9 as the 4-hourly session resumes today. Thus, closing the 4-hourly session above the $0.5996 supply value will put the trade more on the buy side.
Further, the price of FETUSD is in an uptrend on the daily stochastic, this means that the coin price might continue in the same trend and in this case, an uptrend, we, therefore, expect the price distribution to reach a $0.7000 high value soon in its medium-term perspective.
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