FET has broke above a key trendline resistance and could fuel more rally. However, short-term bearish bets hiked and could delay the recovery
] was one of the leaders of the relief rally this week. The AI token has surged nearly 30%, jumped from $1.05 on the 8th of September, and tapped a high of $1.3 on the 10th of September.For context, the last two FET recoveries faced price rejection near the $1.5 level. Although the another price rejection can’t be overruled, the daily price chart indicators suggested the uptrend could extend.
Given the bullish market structure, any further surge could yield a potential 23% or 55% if the price hits $1.59 or the supply zone at $2. In such a case, a drop to the support zone and daily bullish order block at $1.05 — $1.12 could follow.Despite the 30% rally, FET investors who bought the AI token in the past three and six months were in losses.
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