FETCH.AI Price Prediction: Will Fetch.AI(FET) break the crucial support?

• The Open Interest of Fetch.AI(FET) declined by -5.99% in the last 24 hours
• FETCH.AI declined by -12.20% in the last one month.
• The current trading price of Fetch.AI is $0.2159 trading with an advance of +1.22% in the last 24 hours.

Fetch.AI(FET) has been consecutively waning from the higher lavels and making lower low structure and currently is trading in the same structure.

Fetch.AI is a utility token which was designed to deploy, create and train digital twins.

With the help of Fetch.AI users can deploy and build their own digital twins.

Fetch.A(FET)I has been consecutively declining from higher levels making lower low swings and is currently falling after declining from 20,50-day Exponential moving average. If Fetch.AI continues the sell-off momentum we can see a new lower low structure in the upcoming days resulting in a further downtrend.

There has been a spike of +29.57% in the volume of the Fetch.AI resulting in  $58.71M with current CoinMarketCap ranking of #146.

Fetch.AI(FET) Technical Analysis

Source:  Fetch.AIUSDT. 1D by TradingView

EMA: The Fetch.AI(FET) is currently trading below the 20,50-day Exponential moving average with an existing bearish crossover which represents the presence of sellers in the market and if sellers continue to drag the market then Fetch.AI can show further lower prices which can further lead to a downtrend.

RSI: Based upon the current market scenario the RSI for Fetch.AI(FET) looks weak as it is trading below the level of 50 after making a double top at the same level of 58.7 resulting in a bearish signal which represents the presence of sellers in the market and based upon this if RSI continues to draw down further in the upcoming days then we can get to see a good fall in price of Fetch.AI in the further upcoming days.

Market Structure: The Fetch.AI(FET) reversed from the level of 0.1728 making a higher high but failed to sustain on higher levels and started to drag down resulting in the continuation of a downtrend which represents further weakness in the market. Based upon the current scenario the market is trading inside a descending triangle and any breakdown below the triangle pattern can lead to a very good momentum on the downside, resulting in which we can see new lower levels in the upcoming days.

Conclusion

Hence, by looking at the charts we can see that the Fetch.AI(FET) was rising from the last few days but recently broke down the higher high structure and has started to fall again by creating newer lower low structure trading in a bearish crossover of 20,50-day Exponential moving average. The RSI is also trading below the level of 50 by making a double top indicating weakness in the market. On the break of $0.1745, we can see a fresh down move as it will result in a breakdown of the crucial support level.

Technical Levels

• Support Level – 0.2540 and 0.2880
• Resistance Level – 0.2859 and 0.3041

Disclaimer

The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.