- FET is consolidating in a symmetrical triangle that shows converging lines of support and resistance suggesting strong price movement ahead of the apex.
- Immediate support is around $0.62–$0.65 with breakout targets of $0.94, $1.15 and $1.60 if the trend continues upward.
- Volume accumulation between $0.60–$0.70 suggests that there is a built-up interest of activity here, whilst a locked in mid-range RSI offers a clear target area for a decisive breakout on any breach above descending resistance.
Fetch.AI (FET/USDT) is showing a symmetrical triangle pattern on the daily chart, with converging support and resistance lines. Traders are observing the setup as the asset nears the apex, signaling potential movement.
Symmetrical Triangle Formation
The FET daily chart reveals a descending resistance trendline, where lower highs have repeatedly limited upward price momentum. Simultaneously, an ascending support line has held higher lows, applying upward pressure on the asset. The convergence of these two trendlines is bringing FET to a decisive point.
According to Jonathan Carter , “Fetch is developing a symmetrical triangle pattern on the daily chart with converging support and resistance lines.” The tweet further notes that a breakout above descending resistance could target $0.94, $1.15, and $1.60. The pattern indicates a period of consolidation where price compression may lead to a strong directional move.
Volume data supports the structure, showing notable accumulation between $0.60 and $0.70. This liquidity zone indicates that traders are positioning themselves before a potential breakout or breakdown. The triangle formation has now approached its apex, signaling that a decisive price reaction may occur soon.
Key Levels to Watch
Immediate support for FET resides between $0.62 and $0.65, coinciding with the ascending support line and the 50-day moving average. This level acts as a critical point for traders seeking to gauge bullish or bearish pressure.
The first resistance test is $0.80, where a breakout may indicate a change in momentum. Then, we have $0.94, which is an earlier structural resistance, and $1.15, which would represent earlier consolidation.
The $1.60 mark is the major resistance zone derived from the measured move potential of the triangle pattern. A breach above descending resistance could allow FET to reach this level. Conversely, a breakdown below ascending support near $0.62 may prompt a retest of $0.46–$0.38.
Market Indicators and Outlook
The $0.71 50-day moving average represents dynamic resistance. A breakout above the moving average would maintain bullish momentum for FET. Meanwhile, the RSI is also ongoing with mid-range trading and neither overbought nor oversold.
The market context indicates accumulation around $0.60–$0.70, supporting liquidity and interest in current levels. Traders are watching the triangle closely as approaching the apex increases the likelihood of a decisive breakout.
Jonathan Carter’s analysis reinforces this view, noting that a breakout above the descending resistance could trigger a measured move rally. The key levels to monitor remain $0.94, $1.15, and $1.60, with potential downside risk near $0.46–$0.38 if support fails.
