Fetch.AI (FET) Market Analysis & Trade Plan
Fetch.AI (FET) continues its solid uptrend, with price action unfolding in a five-wave move from the April lows. This structure signals promising momentum and suggests that FET might still have room to run — but traders should prepare for a potential B-wave pullback soon.
Wave Structure Insight:
Current move up is labeled as circle wave A (five waves up).
A corrective circle wave B pullback is anticipated next, likely forming an ABC pattern.
Post-pullback, a strong rally in circle wave C could target around $6.20, the 100% Fib extension — a key ideal target for this structure.
Trade Plan:
Entry Zones:
Aggressive Entry: On minor pullbacks above $0.62 while momentum remains bullish.
Ideal Entry: Wait for the anticipated B-wave pullback into the support zone of $0.42 - $0.62. This area will act as a launchpad for the next move if the bullish thesis holds.
Upside Targets:
First Target: Retest of local highs around $1.50 - $2.00.
Major Target: $6.20 (Fib extension target & C-wave ideal completion).
Stop Loss:
Below $0.42 — a break below this micro support would invalidate the bullish structure and signal deeper correction risk.
Key Notes:
Watch for signs of topping in wave A (momentum loss, break of last lows, etc.).
Support zone $0.42 - $0.62 will become the critical area during the B-wave pullback.
Structure suggests that after the correction, the macro bullish trend can continue targeting significant upside.
#Fetch_ai #MarketAnalysis #CryptoNews #MarketUpdate #trading