1. Current market state (from the charts):
Price: Currently around 0.990 USDT, representing a decline of more than 8% in the last 24 hours.
Moving averages: MA(7), MA(25), and MA(99) are all trending down, confirming the continuation of both the short-term and medium-term downward trend.
Volumes: Trading volumes show higher activity during declines, indicating that bearish market sentiment remains strong.
2. Key support and resistance levels:
Support: Strong support is now at the level of 0.960 USDT. If broken, the next support is around 0.900 USDT.
Resistance: The nearest resistance is located around 1.010–1.030 USDT. Another significant level is at 1.072 USDT.
3. Cash flow analysis:
Large orders indicate capital outflow (sell-side exceeds buy-side by 7.26M FET). This confirms prevailing bearish sentiment among larger investors.
Medium and small orders indicate higher balance, suggesting the possibility of stabilization if sentiment improves.
4. Fundamental factors:
Market capitalization: Fetch.ai maintains its position as a stable project in the field of AI and blockchain. With a market capitalization of 2.4 billion USD, it still has room for growth, especially if positive fundamental news or partnerships occur.
Historical highs: The current price is significantly below the peak from March 2024 (3.47 USDT), which means that long-term investors may see current prices as a buying opportunity.
Price trend prediction:
Short-term outlook (1–2 weeks):
The price is likely to fluctuate between the levels of 0.960–1.010 USDT.
If support at 0.960 cannot be maintained, we may see a further decline to 0.900 USDT.
Medium-term outlook (1–3 months):
If Fetch.ai announces new partnerships or sentiment in the crypto market improves, the price could test the level of 1.200 USDT and subsequently continue to 1.500 USDT.
However, a return above 1.000 will be a key signal for the end of the current downward trend.
A good foundation and potential will withstand and survive even in a storm!