$FET has been experiencing notable volatility and interest in recent weeks. As of now, it is trading around $1.67, having recently seen a surge of about 3.5% in the past 24 hours, along with a significant increase in trading volume (up 131%)
Current Price Outlook
FET successfully retested its breakout level of $1.53 and is seen as bullish, with predictions suggesting a potential price increase of 20% to reach the $2 mark in the near future. However, the token must maintain levels above $1.46 to sustain this bullish sentiment .
Technical Analysis
FET is currently above its 200 Exponential Moving Average (EMA), which generally indicates an upward trend. Analysts have noted that it has broken out from a key technical pattern (inverted head and shoulders), which supports a bullish outlook. If the price continues to gain momentum, some predictions even suggest it could reach $3 if it breaks through critical resistance levels
Conclusion
In summary, while FET has the potential for growth with strong technical indicators and recent bullish sentiments, caution is advised due to the mixed signals from on-chain analytics. The upcoming trading days will be crucial for confirming whether it can maintain its current levels and continue its upward trajectory.
