Fetch.ai: Price Surge Fueled by AI Hype
Updated
Fetch.ai, boosted by the AI hype, is charting a 5-wave cycle on the daily chart. We're likely at the conclusion of Wave (3), approaching Wave (4), which is expected to hit the 38% to 61.8% retracement levels. However, it should not reach 61.8% as this would fall below the level of Wave (1). We anticipate the price stabilizing between a 38.2 and 50% retracement. For Wave (5), we expect to surpass the local high of Wave (3) significantly, although the exact target remains to be determined. We will provide updates, but a 100% increase is anticipated.
Comment
For Fetch, we also believe that we might see another move downwards. Whether we will actually reach the 38.2% level for Wave (4) remains to be seen. Nonetheless, we are not making any changes and continue to anticipate a downward movement for Fetch. We will update you as soon as the limit order has been hit or if we break further upwards.
Order cancelled
We are changing our limit order!Here we go, we respected the 138% level perfectly and we are now seeing a strong selloff on FET. We find ourself with a limit order on the 38,2% retracement at 2$. We don't expect FET to fall below the 50% retracement. As awlays we stay patient and wait for our opportunity to unfold
Comment
Fet still looks pretty solid here, holding the blue support zone here. We hope to see another leg up on Fet before we continue the bearish trend. Please note that Fetch.ai is not only very likely to behave like other cryptos but is also very much affected by news about the ai development around the world.
Still technically we would expect an uptrend as long as we can hold this demand
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