- FET has just emerged from a prolonged falling wedge pattern which indicates future powerful upward movement according to analyst predictions of 110% growth.
- FET demonstrates superior market performance compared to Bitcoin and Ethereum since its percentages grew stronger than these major cryptocurrencies.
- The upcoming price evolution for FET depends heavily on the ability to exceed resistance constraints between $0.65 to $0.70 while market trends remain favorable.
The Fetch.AI native token FET displays renewed bullish indications because it successfully escaped from its prolonged declining wedge chart pattern on daily charts. FET token holders currently watch to see how the platform performs following increasing investor attention toward both DePIN and artificial intelligence sectors.
FET/USDT Breaks Resistance, Targets 110% Upside
Data from TradingView shows that the FET/USDT pair exceeded a descending resistance point making it pass through the restrictive wedge pattern that restricted price movements since late 2024. Analysts interpret falling wedges as potent reversal indicators that need price appreciation to the upside for validation and this current situation fits that pattern. The FET price dropped from its earlier peaks at $1.80 toward $0.32 so the pattern developed during its ongoing ascent.
The developmental trend finds support from both high trading volumes and stable accumulation points across the previous sessions indicating future market trend shifts. This pattern breakout estimation points toward a 110% percent upward potential which corresponds with established support levels turning into resistance at $1.20.
FET Outpaces Major Cryptos but Faces Key Resistance Ahead
As of April 20, FET was trading at approximately $0.6013, reflecting a 6.5% increase over the last 24 hours. The current market pattern demonstrates daily support at $0.5535 and daily resistance at $0.6186 which provides limited opportunity to confirm the emergence pattern maintains its strength. FET has surpassed Bitcoin and Ethereum in terms of percentage growth for the same period which indicates strong performance in overall market conditions.
Analysts maintain a cautious stance because further bullish price targets need confirmation when prices climb above $0.65 to $0.70. Assessment of momentum indicators exists to prevent early breakout bull traps that often occur.
Outlook Hinges on Broader Market Conditions
FET’s ability to hold onto gains will be affected primarily by the performance trajectory of its AI and infrastructure-based assets even though a technical breakout happened. Sentiment in macroeconomic conditions remains bearish for risk assets which will establish the following few trading periods as vital for understanding the beginning of a major market shift or the existence of short-term relief.
