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- Bulls dominate the FET market, aiming for $0.47.
- Expanding Bollinger bands signal FET’s upward trend.
- MFI and RSI indicators support FET’s price increase potential.
In the previous 24 hours, Fetch.ai (FET) had undergone a bull-bear duel, with the bulls emerging triumphant when the market established support at $0.4335. Due to the bull’s power restoration, the FET price rose to an intra-day high of $0.464. As of press time, the bulls had increased the price by 5.53% to $0.4602, showing the market’s positive stance.
Market capitalization and 24-hour trading volume increased by 3.22% and 0.25%, respectively, to $377,291,554 and $158,566,785. The increase in market capitalization and trading volume and the optimistic feeling in the FET market show that the bulls are trying to seize control and push the price toward $0.47.
FET/USD 24-hour price chart (Source: CoinMarketCap)
Rising volatility, as shown by the expanding Bollinger bands on FET’s price chart, which now stretch from a high of 0.486110459 to a low of 0.40025347, is consistent with the continuation of the upward trend. The expanding bands reinforce the positive direction and hope that the FET price will continue to rise soon.
The positive trend in the FET price is probable, and additional price gain is in store for investors soon. This anticipation is because the price goes towards the upper band with growing buying pressure while the bottom band stays steady.
Also bolstering the bullish trend is the Money Flow Index’s (MFI) upward momentum to 62.92, with values over 50 indicating significant purchasing pressure and supporting the continuation of the bullish trend. This action lends credence to the notion that the FET price will rise and ought to entice additional buyers as investors grow more confident in the asset’s upward path.
FET/USD chart (Source: TradingView)
According to the FET price chart, the RSI value of 54.59 indicates that the price of FET is robust in contrast to previous prices and may continue climbing. As a result of this change, FET bulls may gain ground and push the price further higher soon.
Investors may be confident that FET will continue its upward journey, and prices may soon hit a new high as the Fisher Transform has just moved over its signal line with a value of 0.57.
This move means that now is an excellent opportunity to invest in FET and to purchase at present levels before the price climbs. The RSI reading of 54.59 places FET firmly in the higher half of its range, indicating that the cost of FET is likely to continue rising soon.
FET/USD chart (Source: TradingView)
FET’s bullish momentum suggests a potential price surge as the expanding Bollinger bands and increasing MFI indicate growing buying pressure, making it an attractive investment opportunity.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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