FETUSD signaling to +600% gains in early 2025.
Fetch.AI (FETUSD) has been trading within a (dotted) Channel Up since the November 21 2022 bottom of the Inflation Crisis and the recent August 05 Low touched and rebounded exactly on the 1W MA100 (green trend-line).
Technically, that was the Head of an Inverse Head and Shoulders (IH&S) pattern, which is typically a formation seen on market bottom reversals. Given the fact that it was also on the bottom (Higher Lows trend-line) of the 2-year Channel Up, there are high chances of a new Bullish Leg. A 1W MACD Bullish Cross (which is very close to emerge) will confirm that signal.
Since 2019 and the start of FET's trading, a 1W MACD Bullish Cross has delivered strong rallies in 6 out of 8 times. Considering also the fact that since the March 09 2020 bottom, the multi-year pattern is a (blue) Channel Up, there are currently much higher chances for a new rally than not.
The first Bullish Leg of the blue Channel Up (2020/21) peaked at more than +15660% and above the 1.5 Fibonacci extension. Assuming that the pattern is to print another such rise (+15660%) from the November 2022 bottom, then we should be expecting a Q1 2025 Target at around 8.9500.
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Technically, that was the Head of an Inverse Head and Shoulders (IH&S) pattern, which is typically a formation seen on market bottom reversals. Given the fact that it was also on the bottom (Higher Lows trend-line) of the 2-year Channel Up, there are high chances of a new Bullish Leg. A 1W MACD Bullish Cross (which is very close to emerge) will confirm that signal.
Since 2019 and the start of FET's trading, a 1W MACD Bullish Cross has delivered strong rallies in 6 out of 8 times. Considering also the fact that since the March 09 2020 bottom, the multi-year pattern is a (blue) Channel Up, there are currently much higher chances for a new rally than not.
The first Bullish Leg of the blue Channel Up (2020/21) peaked at more than +15660% and above the 1.5 Fibonacci extension. Assuming that the pattern is to print another such rise (+15660%) from the November 2022 bottom, then we should be expecting a Q1 2025 Target at around 8.9500.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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