FET Crypto Sell Off: Is This the End or a New Beginning?
The $FET crypto has been exhibiting a range of price movements on the 4-hour chart, with recent closing prices reflecting some volatility. Closing prices indicate a slight downward trend, suggesting that the market sentiment has been bearish in the short term.
From a technical perspective, the 9 Exponential Moving Average (EMA) has been consistently below the 20 EMA. This alignment typically signals a bearish trend, where short-term prices are lower than the longer-term trend. It also indicated potential continued downside movement.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator further supports the bearish outlook. MACD values have been negative, with the MACD line crossing below the signal line. This indicates that downward momentum is prevailing.
Additionally, RSI values ranging from 27 to 37 suggest that the #FET crypto has been in the oversold territory, pointing to potential short-term recoveries as buyers may start to enter the market.
The critical support level for the #Fetch.ai price is at $1.256. If the price holds above this level, it may indicate a potential reversal or consolidation phase. On the upside, the immediate resistance levels are at $1.444 and $1.473. A break above these levels could signal a bullish reversal and potential upward momentum. #altcoins #MtGoxJulyRepayments
The full analysis and trade strategy were originally posted on www.ecoinimist.com.
The $FET crypto has been exhibiting a range of price movements on the 4-hour chart, with recent closing prices reflecting some volatility. Closing prices indicate a slight downward trend, suggesting that the market sentiment has been bearish in the short term.
From a technical perspective, the 9 Exponential Moving Average (EMA) has been consistently below the 20 EMA. This alignment typically signals a bearish trend, where short-term prices are lower than the longer-term trend. It also indicated potential continued downside movement.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator further supports the bearish outlook. MACD values have been negative, with the MACD line crossing below the signal line. This indicates that downward momentum is prevailing.
Additionally, RSI values ranging from 27 to 37 suggest that the #FET crypto has been in the oversold territory, pointing to potential short-term recoveries as buyers may start to enter the market.
The critical support level for the #Fetch.ai price is at $1.256. If the price holds above this level, it may indicate a potential reversal or consolidation phase. On the upside, the immediate resistance levels are at $1.444 and $1.473. A break above these levels could signal a bullish reversal and potential upward momentum. #altcoins #MtGoxJulyRepayments
The full analysis and trade strategy were originally posted on www.ecoinimist.com.
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FET
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