- FET consolidates within a symmetrical triangle, signaling pressure before breakout.
- Buyers are holding the $0.64–$0.65 zone firmly, while sellers keep pressing at the red trendline, squeezing the price into a tighter range
- If momentum picks up after a breakout, price targets line up at $0.88, then $1.12, and later $1.64.
Fetch.ai’s native token, FET, is at a critical juncture. Price action now forms a symmetrical triangle, hinting at a potential breakout as bulls defend support levels and test long-term resistance.
Market Structure and Triangle Setup
According to market updates shared by trader Marcus Corvinus, FET/USDT is compressing within a symmetrical triangle on the daily chart. This setup often signals a decisive move once the price breaks beyond either boundary.
Earlier in the year, FET traded within a falling wedge, creating a clear downtrend. After finding a bottom, momentum shifted upward, invalidating the bearish structure. Price has knocked on the descending resistance line several times.
The 200-day EMA still sits overhead, keeping long-term pressure in play. Even so, buyers keep stepping in around $0.64–$0.65, turning that zone into a solid support base.
Breakout Levels and Price Targets
If buyers secure a breakout above the triangle resistance, upside levels are already in focus. The first target stands at $0.8861, a key zone of past resistance. Beyond this, price objectives extend to $1.1253 and $1.6476, reflecting former swing highs.
Further expansions mapped by Fibonacci extensions outline targets at $2.1684, $2.70, and $3.4865. These milestones serve as long-term objectives should momentum build significantly after confirmation.
Meanwhile, failure to clear resistance may keep price locked within the compression range, with $0.64 acting as the crucial line of defense for bulls.
Short-Term Sentiment and Indicators
On lower timeframes, FET shows alternating bullish and bearish phases. Trading volume sits at $65.26 million in the last 24 hours, reflecting steady but controlled market participation. RSI hovers near neutral, while MACD shows limited bullish momentum, suggesting a balance between buyers and sellers.
Source CryptoRank
At press time, FET trades at $0.6471, marking a slight 0.36% gain over 24 hours and a -2.78% decline on the weekly chart, according to CoinMarketCap data.
