$FET Fetch.ai

FET

$0.6537

turned down from the $0.84 overhead resistance and has reached the 20-day EMA The bulls will try to arrest the pullback at the 20-day EMA. If the price rebounds off the 20-day EMA with force, the FET/USDT pair could reach the $0.84 level. A break and close above $0.84 opens the doors for a possible rise to $1.09.

Sellers are likely to have other plans. They will try to pull the price below the 20-day EMA. If they manage to do that, the pair could fall to the 50-day SMA ($0.54), where the buyers are expected to step in. The pair has reached the crucial support at $0.67. If the price rebounds off $0.67, the bears will try to halt the relief rally at the moving averages. If the price turns down from the moving averages and breaks below $0.67, it suggests that the bulls have given up. That could drag the pair down to $0.60.

Alternatively, a break above the moving averages signals demand at lower levels. That suggests a possible range formation between $0.67 and $0.80. The uptrend could resume on a close above $0.80.