Fetch.ai (FET) price surged over 15% last week, approaching a crucial resistance level. While bullish signals like an 80% potential uptick are present, on-chain data reveals increased selling pressure and bearish sentiment. Mixed signals from technical indicators suggest a possible price correction or continuation of the uptrend.
has been on a gaining spree during the last week as its value submerged in double digits. The better news was that it was once again approaching a crucial resistance level.revealed that FET registered an over 15% price hike last week. The last 24 hours were also bullish as the token’s price increased marginally. At the time of writing, FET was trading at $1.60 with a market capitalization of over $4 billion.revealing quite a few interesting updates.
As per our analysis of Santiment’s charts, FET’s supply on exchanges increased while its supply outside of exchanges dropped. This clearly indicated that investors were selling the token.Apart from that, we also found that the token’s weighted sentiment dropped, meaning that bearish sentiment around FET increased in the market. Nonetheless, its social volume remained relatively stable, reflecting its popularity in the crypto space.
We found that the Chaikin Money Flow registered a downtick. This indicated that there were chances of a price correction. However, the MACD remained in the buyers’ favor as it displayed a bullish crossover. If FET’s bulls take over, then it might drop to $1. But if the uptrend continues, then it will open a clear path for the token to touch $3 in the coming weeks.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space.
FET Fetch.Ai Price Analysis Cryptocurrency Breakout Correction
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