- The price of FET is approaching a double bottom above $0.8542, pointing to the possibility of a reversed trend on digital charts.
- The price continues in the range of $0.8542 to $0.9241, likely preparing for a move through either of those levels.
- If the current structure holds and momentum builds, FET could target a longer-term upside toward $3.486.
Fetch.AI’s native token, FET, has shown renewed price stability on the monthly chart, despite a marginal daily decline of 0.9%. As of the latest reading, FET trades at $0.9056 , maintaining levels just above the key support line of $0.8542. A double-bottom formation, visible on the high time frame (HTF) chart, indicates the asset may be preparing for a rebound if price continues holding near current levels.
Monthly Structure Forms a Potential Reversal Pattern
The chart reveals two critical low points forming near the same price range over a span of several months. These lows have been marked at key points on the monthly candlestick chart, suggesting a potential reversal pattern. This double-bottom structure is often interpreted as a sign of price exhaustion on the downside.
FET’s current candle is holding slightly above the prior month’s low, and this movement keeps the token within the bounds of a broader support range. Notably, the asset has shown a historical tendency to react from similar structures. If price sustains above the $0.8542 support, the pattern could gain more significance in the upcoming sessions.
Price Range and Market Levels Remain Tight
Over the past 24 hours, FET has traded within a relatively narrow range. The price fluctuated between $0.8542 and the resistance mark of $0.9241. This tight range highlights market indecision, but also suggests that the asset is stabilizing.
FET currently ranks #58 among cryptocurrencies by market cap. At the current rate of $0.9056, it is trading 3.3% higher against ETH and 0.6% up against BTC. These pairings show mixed performance in relation to broader digital assets but indicate strength within its own support level.
Upward Projection Shows Possible Target Near $3.48
A projected path on the chart extends toward the $3.486 price level, marked as a potential target. While this level remains distant, the upward projection suggests an extended bullish scenario. The monthly structure shows the price could revisit higher resistance zones if momentum increases.
The price movement over the next few sessions will determine whether FET can break the $0.9241 resistance and confirm a stronger trend.
