Fetch.ai (FET) has confirmed a bullish breakout, signaling a potential trend change and beginning of a rally. The token is trading around $0.507 following the breakout from a descending wedge.
Confirmation of Bullish Breakout
According to reports, FET has completed a breakout from a descending wedge, characterized by strong volume and narrowing volatility. Following a 4.54% increase, the token has ended an extended consolidation.
Target Levels and Resistance
Immediate resistance is found at $0.597. If FET closes above $0.60, a rapid surge towards the $1.55 to $2.20 range is likely, aligning with historical swing highs. Traders may aim for a 231% rise towards $1.50.
Key Support and Risks
Key support is near the lower boundary of the ascending channel at $0.30. A drop below this line could indicate unexpected downside risk. Other significant support levels are at $0.317 and $0.171.
Fetch.ai shows technical strength with confirmed breakout. The upcoming sessions will reveal if it can sustain this momentum or face corrective action.
