Fetch.ai (FET) Market Analysis – May 4, 2025
FET is in the midst of a corrective rally from the April low (~$0.55), but uncertainty remains due to overlapping wave structures. The current structure suggests we might be in either a complex ABC corrective wave or a developing five-wave move to the upside.
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Technical Overview:
Primary Structure: Tracking potential five-wave impulse from April 7 low.
Alternate View: ABC corrective rally still in play.
Key Decision Point: A break above $0.787 (B-wave high) may confirm upside continuation to $0.91+.
Risk Zone: A break below $0.557 would invalidate current bullish structure.
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Support Levels:
$0.598 (50% retracement – wave 4 must hold ideally)
$0.557 (last support for wave 4 – break below invalidates)
$0.41 (major support if structure fails – B wave correction target)
Resistance Levels:
$0.687 (local resistance)
$0.787 (key breakout level)
$0.91+ (wave 5 target if breakout succeeds)
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Trade Setup:
Entry Zones:
Entry 1: $0.60 – $0.62 (wave 4 Fibonacci support)
Entry 2: On breakout above $0.787 (confirmation of wave 5)
Targets:
TP1: $0.687
TP2: $0.787
TP3: $0.91+
Stop-Loss:
Aggressive SL: Below $0.598
Conservative SL: Below $0.557
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Analysis Summary:
Short-term traders should watch for bullish reaction near $0.60 - $0.62 support zone.
A breakout above $0.787 would increase confidence in a move toward $0.91.
A sustained break below $0.557 shifts focus toward $0.41.
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