Fetch.ai (FET) Consolidates Near Support Amid Mixed Signals and Potential Elliott Wave Targets
Main Idea
Fetch.ai (FET) is consolidating near the $0.66 support level, showing mixed signals with potential for both bearish and bullish movements, including long-term targets up to $4.00 if key levels are breached.
Key Points
1. Fetch.ai (FET) is consolidating near the $0.66 support level within a symmetrical triangle pattern, with a decisive close below $0.67 potentially leading to a decline toward $0.38.
2. Technical indicators show mixed signals: MACD indicates bearish pressure, while RSI suggests possible upward momentum if support holds.
3. Long-term Elliott Wave analysis projects potential bullish targets at $1.25, $1.60, and $4.00 if Wave 5 confirms and key resistance levels are surpassed.
4. The $0.78 level (0.618 Fibonacci retracement) is a critical resistance zone for determining FET's next price direction.
5. Volume spikes and confirmation above $0.78 are essential to validate the bullish scenario and accelerate gains.
Description
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