- FET forms a descending triangle with strong horizontal support near $0.56.
- Price breaks above trendline, confirmed bullish shift targeting $0.85–$1.00.
- Volume surge supports breakout;but a retest of $0.57 is crucial for sustained momentum.
Fetch.AI (FET) just broke out of a falling wedge pattern around the $0.56 support level. This bullish move suggests it could be gearing up to push toward the $0.85 resistance zone.
Descending Triangle Breakout Signals Bullish Reversal
After being stuck in a descending triangle for months, FET’s price is showing signs of a shift. This pattern, marked by a series of lower highs, found steady support between $0.55 and $0.57.
Source World Of Charts
A strong bullish candle confirmed the breakout, pushing past both the resistance and the nearby horizontal support zone. The price push above signals a shift in momentum, making this level important for it acted as a major demand area before, and reclaiming it suggests the market is turning more optimistic.
Based on the triangle’s height set targets, FET could be headed toward the $0.85 to $1.00 range. This zone served as resistance earlier in the year, so it’s a level to watch as the rally unfolds.
Volume and Support: Keys to Sustained Momentum
The breakout isn’t just about price movement—volume is key to confirming it. Since early October, we’ve seen trading volume pick up during rallies, which suggests genuine buying interest, not just a quick spike.
That said, the rally’s strength hinges on FET staying above the $0.57 level. What used to be resistance is now acting as support—a classic retest that often signals a strong breakout. If FET can’t hold this level, we might see a pullback or a return to the previous trading range.
Short-term momentum hints the asset may need a brief pause or some sideways movement, which could actually create better entry points for swing traders targeting the next resistance near $0.85 and beyond.
What Traders Should Watch For
The breakout is looking good, but traders should watch the volume and see how the price holds up around support to avoid getting stuck in a fakeout. If FET bounces off the $0.57 level, it could pave the way for a rally. But if it drops below that, the bullish outlook might fall apart.
Right now, with the breakout, rising volume, and reclaiming key demand zones, Fetch.AI seems ready for its next upward push. Those watching closely could find some great opportunities if momentum sticks.
