- FET’s price trades near $0.66, testing triangle support after rejection at 0.618 Fibonacci retracement around $0.78.
- MACD signals extended bearish momentum, but RSI shows a subtle rise, hinting at possible accumulation beneath $0.70.
- Long-term Elliott Wave projections put $1.25, $1.60, and $4.00 in play if bullish structure confirms a Wave 5 continuation.
Fetch.ai (FET) is at a pivotal price point, testing a symmetrical triangle support near $0.66. Market momentum looks mixed, with bulls defending key levels while momentum indicators signal caution heading into August.
Triangle Apex Squeezes Price Toward Decision Zone
FET has moved inside a symmetrical triangle pattern since March 2025, bouncing between converging trendlines. The price dropped from $1.80 to $0.42 earlier this year, initiating the pattern’s formation. Currently, the asset holds just above the $0.66 zone, near the triangle’s apex.
Fibonacci levels drawn from the February high to March low place $0.681 as a mid-support. The recent rejection at $0.783 near the 0.618 level triggered a pullback. A close below $0.67 could open doors to $0.38, warns crypto analyst Ali, according to an X post on his @ali_charts profile.
Momentum Stalls but RSI Points to Accumulation
The MACD indicator shows continued bearish pressure. Both MACD and signal lines stay under zero, confirming weakening short-term momentum. Red histogram bars remain dominant, and recent MACD crossovers failed to build lasting strength.
Volume data reveals a drop-off during this downtrend, with no breakout in either direction. However, the RSI is rising gradually, suggesting subtle buying interest. A hold above $0.66 could strengthen this recovery narrative.
Elliott Wave Projects $4 as Cycle High Target
Despite recent weakness, long-term market structure remains bullish. Solberg Invest shared a multi-year Elliott Wave analysis on X, identifying FET in a potential Wave 5 cycle. The pattern aligns with bullish trend continuation.
Wave targets beyond $1.25 and $1.60 remain valid if the price clears $0.78. Volume spikes and market confirmation will be key to validating this bullish thesis. Above $1.00, FET may accelerate toward $2.20 and $4.00.
