In the crypto world, nothing is more exciting than an AI coin sitting at a support bottom, accumulating strength before a major breakout. And right now, Fetch.AI ($FET) is becoming the center of attention for the sharp investment community as it has just successfully recovered the important support area – a signal indicating that the potential for a strong explosion up to $2.60 is becoming a reality.
FET and the bottom-fishing are not for the inexperienced
Last week, $FET there was a psychological challenge for investors when breaking the symmetrical triangle pattern – often a sign that the market is looking for its next direction. Many hastily assumed that FET would continue to decline sharply. But in reality, the opposite occurred: right after breaking the support, the price turned around and spectacularly reclaimed this area, reigniting optimistic sentiment in the market.
This signal is confirmed by one of the reputable analysis channels, Alpha Crypto Signal, stating that this is 'a controlled risk long setup', based on a solid technical structure. The recovery is not just technical, but also backed by a very compelling story: the upcoming merger between $FET, $AGIX, and $OCEAN – three leading AI tokens approaching the consolidation of their ecosystems.
This means we have both 'structure' and 'story' – a golden combo in the investment world, especially for those hunting for big profits before mainstream news breaks.
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Harmonic pattern – Sign of big hands?
Observing the 4-hour chart on Bybit, a completed Harmonic ABCD pattern can be seen right inside a symmetrical triangle. This pattern starts at point A around $0.685, rises to $0.945 (point B), then slightly adjusts to $0.790 (point C) before recovering to $0.910 (point D). This structure is commonly seen when 'sharks' start to accumulate before pushing the price.
However, after the pattern completed, the FET price was pushed below both EMA 9 and SMA 50 – indicating a 'shakeout' phase to eliminate weak hands.
And what now? FET is accumulating, waiting for a final catalyst to explode into a new price range.
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Price compression – The calm before the breakout storm?
After the breakdown, FET dropped to the $0.745 area before bouncing back. However, buyers still lack the strength to overcome the resistance at $0.850. The price is 'stuck' in a narrow range around $0.790 – this often occurs before strong breakout phases.
It is noteworthy that the EMA and SMA moving averages are currently above the price – this is an area that many traders call the 'death zone' – where prices are continuously rejected. Specifically, the $0.805–$0.810 area is the 'roof' that FET must break through if it wants to unlock the next wave of increases.
On the other hand, the current support around $0.775–$0.780 is being held firm. This shows that buyers are not retreating, but are just waiting for the right moment. When the price maintains this support level, combined with gradually decreasing liquidity, this may be the final accumulation moment before a breakout.
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Elliott wave signals a target of $2.60 – Is it too ambitious?
Another highlight that investors cannot ignore is the Elliott wave analysis from technical expert Hov. According to him, FET is currently in wave (5) – the final wave of the five-wave growth cycle. Previously, wave III peaked at $3.20 in March 2024, then FET went through an 8-month wave IV correction, bottoming around $0.40.
What does this mean? It means that FET has completed its correction cycle and is now entering the final bullish wave – usually the strongest breakout wave. Based on Fibonacci ratios and historical price behavior, Hov sets a target of $2.60 for wave V, which is entirely achievable if the technical and market sentiment factors converge.
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Are you brave enough to 'get on board' before the AI train departs?
With the current backdrop, it is clear that FET is not just an ordinary AI token. It is a wave forming that could push the price up many times in the coming weeks. Those waiting for certain signals may buy at $1.2 – $1.5, while the current opportunity lies in the $0.78–$0.81 range – a place reserved for investors with a long-term perspective and strong mentality.
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