Fetch.ai Crypto : A Rebound on the Horizon or a Persistent Slump

30 июн.

Fetch.ai Crypto : A Rebound on the Horizon or a Persistent Slump?
The FET/USD daily chart reveals a consolidation near the demand zone.
The RSI and SMA line suggests a positive divergence indicating bullish reversal might be on the horizon.

Fetch.ai crypto has been a mixed bag in the last week. The crypto started the week on a positive note however suffered rejection from the upper levels erasing the gains. At the time of writing, the FET crypto was exchanging hands close to $1.40 indicating a notable 4.47% rise in Intraday.

The short term trend outlook has been neutral to bearish. However, the price still hovers above a strong demand zone of $1.1 level from where the price had taken a rebound. The daily chart indicates a possible consolidation in the short term as the price seemed to have stuck in a range bound with the support at $1.1 and resistance at $1.77.
Fetch.ai Crypto Volume And Volatility Analysis
Moreover, the long term trend outlook points to a declining trend since the mid May. The Fetch.ai price has dropped nearly 60.53% from its All time high value of $3.47% which was recorded in the last week of March.

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The volume analysis shows that the volume inflow has dropped by 28.4% as compared to the previous and was at $110.57 Million. It has a live market capitalization of $1.187 Billion and ranks 64th in the cryptoverse.

Moreover, the volume to market cap ratio at 8.75% suggests mild volatility in the crypto. FET crypto has a total supply of 2.63 Billion tokens out of which 848.19 Million tokens are currently in circulation.
Fetch.ai Crypto Technical Analysis.
From a technical point of view, the FET crypto price was hovering below all the key exponential moving averages of 20, 50 and 200 days suggesting a bearish trend prevailing in the short term. Recently, the price attempted for a recovery however suffered consolidation from the 50 day EMA indicating a bearish continuation.

At the time of writing, the RSI line was placed close to 41.58 points and that of the 14 day SMA line placed close to 40.39 points and was headed towards the mean line indicating improvement in the sentiments. Moreover, a positive divergence between the RSI and SMA line was observed indicating a bullish continuation.
Conclusion.
Fetch.ai (FET) experienced a volatile week, starting strong but facing resistance that erased early gains. At the time of writing, FET crypto was trading close to $1.40 recording 4.47% rise in intraday. The short-term outlook seemed to be neutral to bearish, with the price hovering above the $1.1 demand zone.

The technical indicators suggest a bearish trend, as FET was hovering below the 20, 50, and 200-day EMAs. Despite a recent recovery attempt, the price suffered resistance at the 50-day EMA. The RSI and SMA lines hint at improving sentiment, suggesting potential for a bullish continuation.