Fetch.AI showing positive signs and resemblancesFrom September 2021 to November 2022, the asset corrected by more than 95% during its downtrend. I found many similarities in the corrective structure of this period with the potential wave 2 of this new recovery cycle.
Please, note the green and purple boxes and the formation of a double bottom. Then, observe how the asset behaved after breaking out of the accumulation period at the end of 2022.
Could we be witnessing something similar happening in a potential wave 3? Within the Elliott Wave Theory, this impulsive wave would be of greater magnitude and, therefore, larger than the previous wave 1.