The Fetch.ai crypto chart displayed a varied performance last week, commencing positively but encountering rejection and relinquishing most of its earlier gains subsequently. Currently priced at $1.40, reflecting a notable 4.47% intraday increase, Fetch.ai demonstrated a fluctuating trend. Despite a neutral-to-bearish short-term outlook, it remains above a robust demand zone at $1.1, which acted as a crucial support level. The daily chart signifies a potential short-term consolidation phase, with the price range-bound between $1.1 and $1.77.

Fetch.ai Crypto Volume And Volatility Analysis

The long-term trend analysis indicates a downward trajectory since mid-May, with Fetch.ai's price plummeting by approximately 60.53% from its peak value of $3.47 achieved in late March. Volume analysis reveals a 28.4% decrease in volume inflow compared to the previous period, standing at $110.57 million. The current market capitalization of Fetch.ai amounts to $1.187 billion, positioning it as the 64th entity in the cryptoverse. Additionally, the volume-to-market cap ratio of 8.75% suggests a mild level of volatility, with 848.19 million out of 2.63 billion total tokens in circulation.

Fetch.ai Crypto Technical Analysis

Analyzing Fetch.ai's technical indicators, the token was observed below the 20, 50, and 200-day EMAs, indicative of a bearish short-term trend. Despite an attempted recovery, the price ultimately consolidated near the 50-day EMA, signaling a continuation of the bearish trend. The RSI line at approximately 41.58 points and the 14-day SMA line at about 40.39 points were approaching the mean line, hinting at an improvement in sentiment. A positive divergence between the RSI and SMA lines, a bearish signal, was also noted.

Conclusion

Fetch.ai (FET) encountered a tumultuous week characterized by a strong start followed by significant resistance that erased early gains. With the price resting at $1.40 and registering a 4.47% intraday increase, the short-term projection leans towards neutrality to bearishness, although the price remains above the critical $1.1 demand zone. Technical indicators suggest a bearish trend as Fetch.ai struggled below the EMAs and faced impediments at the 50-day EMA level. Despite these challenges, improving sentiments indicated by the RSI and SMA lines offer the potential for a bullish continuation.

Disclaimer

The author's views and opinions expressed in this article are solely for informational purposes and do not serve as financial or investment advice. Participation in cryptocurrency or stock trading carries inherent financial risks, and individuals should exercise caution and conduct thorough research before engaging in such activities.