Fetch.ai (FET) is consolidating near the critical $0.66 support level, navigating a symmetrical triangle pattern that may determine its next significant price direction. Technical analysts indicate that a sustained close below $0.67 could trigger bearish momentum toward the $0.38 zone.
Indicators present conflicting signals: the Moving Average Convergence Divergence (MACD) shows persistent bearish pressure while the Relative Strength Index (RSI) suggests possible upward momentum if support holds firm. Market watchers identify $0.78 – representing the 0.618 Fibonacci retracement level – as essential resistance for confirming bullish reversal potential.
Long-term Elliott Wave analysis reveals ambitious technical targets should FET maintain structural integrity. Confirmation of Wave 5 development could propel prices toward $1.25, $1.60, and eventually the $4.00 horizon, contingent upon overcoming several key resistance barriers. Significant volume spikes coupled with decisive confirmation above $0.78 remain crucial prerequisites for validating upward acceleration scenarios.