Comprehensive and detailed analysis of Fetch.ai (#FET/USDT )
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Current price and basic data:
Instant price: $1.715
24-hour change: Down 12.83%, with active trading reflecting high volatility.
Trading volume: around $737 million in the last 24 hours.
Daily price range:
Top:
$2.06.
Minimum:
$1.76.
Weekly change: Down 3.31%, with a low of $1.70 and a high of $2.19.
Market Cap: Around $4.65 Billion.
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Technical analysis:
1. Current trend:
The coin is facing clear selling pressure as the price has fallen below the 100-day moving average, indicating a continuation of the short-term downtrend.
2. Support and resistance levels:
First support: At $1.70, it represents a critical point if the price falls below it.
Support 2: At $1.60, it could be a strong bounce level if tested.
First resistance: It is located at $1.80, and if it is broken, the currency may head towards $2.00.
3. Technical indicators:
RSI (Relative Strength Index):
Currently in a neutral oversold zone, which may push the price to recover in the near term.
MACD:
Indicates a continuation of the downtrend with strong selling momentum.
Trading volume:
High activity indicates battles between buyers and sellers, but the overall trend is currently leaning towards sellers.
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Fundamental analysis:
1. Fetch.ai Project:
A pioneering project that combines artificial intelligence and blockchain technology, targeting sectors such as the Internet of Things, smart mobility, and supply chains.
The latest updates include network improvements and the launch of new platforms to enhance efficiency and speed of execution.
2. Partnerships and development:
New partnerships with other blockchain platforms, such as Injective Protocol, are attracting interest, further enhancing the currency’s practical use.
3. Risks:
A price drop below the major average levels may lead to additional selling pressure.
The market is currently affected by a correction wave in most cryptocurrencies.
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Future expectations:
1. Short term (days - weeks):
If the support at $1.70 holds, the currency may witness a slight rebound towards $1.80.
If the support is broken, the price may drop to $1.60 before regaining momentum.
2. Medium term (1-3 months):
As the market stabilizes, a positive trend could take the price back towards $2.00-$2.20 if technical indicators improve.
3. Long term (6 months - 1 year):
Continued developments in the project, such as smart contract integration and AI partnerships, could push the price to $3.00 levels or higher.
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Recommendations:
1. For the scholars:
Possible entry point: $1.70, with a stop loss of $1.65.
First target: $1.80, second: $2.00.
2. For long-term investors:
Gradual buying at current levels may be appropriate, with an eye on the long time horizon to capitalize on the project's potential.
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Conclusion:
Fetch.ai is one of the promising projects due to its focus on the AI and blockchain market. Despite the current correction, the current price levels represent a good opportunity for those planning to invest for the long term, taking into account short-term fluctuations and following news and developments.