FETUSDT bouncing from a major support!!
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Hello everyone,
Let's analyze Fetch.AI (FET) both fundamentally and technically.
FUNDAMENTAL ANALYSIS:
Fetch.AI is an AI lab creating an open, decentralized machine learning network with an integrated cryptocurrency economy. Their platform democratizes access to AI technology by providing a permissionless network where anyone can connect and securely access datasets. Autonomous AI on this network performs tasks that utilize a vast global data network. Fetch.AI's model focuses on applications such as enhancing DeFi trading services, optimizing transportation networks (like parking and micromobility), managing smart energy grids, and improving travel systems—essentially, any complex digital system dependent on extensive datasets.
TECHNICAL ANALYSIS:
FET has undergone a significant 80% correction from its all-time high but is currently finding support at $0.712. This level is crucial for the coin's recovery.
Technical indicators are showing bullish signs:
Strong support levels: Price is holding above the 200 EMA on daily and 50EMA and 100EMA on monthly charts.
RSI nearing oversold: The RSI indicator is approaching the oversold zone, suggesting potential buying pressure.
Entry: $0.636 - CMP
Target: $4.5 - $5.6
If the $0.625 support breaks, a deeper correction towards $0.18 - $0.25 is possible, offering a potential accumulation opportunity.
Like And share the content.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Hello everyone,
Let's analyze Fetch.AI (FET) both fundamentally and technically.
FUNDAMENTAL ANALYSIS:
Fetch.AI is an AI lab creating an open, decentralized machine learning network with an integrated cryptocurrency economy. Their platform democratizes access to AI technology by providing a permissionless network where anyone can connect and securely access datasets. Autonomous AI on this network performs tasks that utilize a vast global data network. Fetch.AI's model focuses on applications such as enhancing DeFi trading services, optimizing transportation networks (like parking and micromobility), managing smart energy grids, and improving travel systems—essentially, any complex digital system dependent on extensive datasets.
TECHNICAL ANALYSIS:
FET has undergone a significant 80% correction from its all-time high but is currently finding support at $0.712. This level is crucial for the coin's recovery.
Technical indicators are showing bullish signs:
Strong support levels: Price is holding above the 200 EMA on daily and 50EMA and 100EMA on monthly charts.
RSI nearing oversold: The RSI indicator is approaching the oversold zone, suggesting potential buying pressure.
Entry: $0.636 - CMP
Target: $4.5 - $5.6
If the $0.625 support breaks, a deeper correction towards $0.18 - $0.25 is possible, offering a potential accumulation opportunity.
Like And share the content.
Happy Trading!!
Note
A sharp bounce as discussed is seen here.
Note
136% up from our buy zone!!
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