Fetch.ai (FET) has seen a surge in daily trading volume by 47% after its price reclaimed support above $0.60 amidst a broader positive sentiment in the crypto market. The recent listing on Indonesia’s largest cryptocurrency exchange, INDODAX, has contributed to renewed investor interest in the project.
Fetch.ai Price Outlook
Despite facing a 9% decline on Thursday, Fetch.ai has gained over 40% in the past month, reaching a high of $0.78. The recent listing on INDODAX has led to a significant increase in trading volume, with over $171 million worth of FET traded in the last 24 hours. This surge in volume could potentially drive Fetch.ai towards the critical $1 mark and even target a new all-time high. The all-time high for Fetch.ai price is $1.17, reached in September 2021.
The cryptocurrency is expected to benefit from the positive sentiment surrounding the broader crypto market and anticipated growth in the 2024 AI narrative. As a result, FET’s recent performance has positioned it for potential upside movements, with a possibility of breaking through to $1 with the support of a bullish market.
The successful retest of the $0.60 support level and the fresh accumulation indicate a bullish stance, potentially leading to a surge towards $0.80. If this resistance zone transforms into support, it may pave the way for FET/USD to witness a significant spike as it enters the price discovery phase.
For the latest price movement and technical analysis, check out the Fetch.ai price chart here.
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FAQ
What is Fetch.ai?
Fetch.ai is a decentralized platform that aims to enable the development of autonomous economic agents that can perform various tasks on behalf of individuals and businesses.
What contributed to the surge in Fetch.ai’s trading volume?
The surge in Fetch.ai’s trading volume can be attributed to its listing on INDODAX, Indonesia’s largest cryptocurrency exchange, which sparked renewed interest in the project and its potential growth.
What is the significance of Fetch.ai reclaiming support above $0.60?
Fetch.ai reclaiming support above $0.60 signifies a bullish trend and potential for an upside movement in its price, especially if this support level holds amidst fresh accumulation.
Summary
Fetch.ai’s recent performance has seen a surge in trading volume and a reclaiming of support above $0.60, fueled by its listing on Indonesia’s largest cryptocurrency exchange, INDODAX. The surge in interest and potential for a broader bullish market sentiment have positioned Fetch.ai for a potential upward rally towards $1 and beyond, targeting a new all-time high.