Fetch.ai (FET) Market Recovery Showcases a Significant Surge in Market Value

Fetch.ai (FET) has seen a remarkable recovery, showcasing a significant surge in its market value. Following a sharp decline, FET has rebounded strongly

Fetch.ai (FET) price analysis for March 23

FET encountered a strong bullish momentum last week, showcasing a remarkable recovery. After sharply declining to $1.30, FET has rebounded significantly, appreciating by almost 20% over the past seven days and currently trading at $1.77.

The 24-hour trading volume for Fetch.ai (FET) stands at $710.71 million, while the token boasts a market capitalization of $1.22 billion. The price of FET has surged by 11.41% over the past 24 hours, indicating a strong investor confidence and renewed interest in the token.

Analyst Projects +120% Upside for Fetch.AI (FET)

Several seasoned analysts are keeping a close eye on Fetch.AI (FET), anticipating promising developments in the coming days. Analyst Posty has observed encouraging signs in the FET chart, highlighting the formation of a higher low and posing the crucial question – can FET now follow up with a higher high?

At the moment, FET is facing local resistance at $1.70, with the price range between $1.70 and $1.95 posing a challenging zone. However, a breakthrough above $1.95 could open up opportunities for long positions, depending on the performance of Bitcoin (BTC) at that time.

Adding to the optimistic outlook, renowned crypto analyst Javon Marks shared a bullish perspective on FET’s price trajectory. Marks pointed out that FET, with its most recent daily close, has confirmed a bullish pattern in the form of a Hidden Bullish Divergence. This pattern suggests that the recent pullback may be temporary, and a continuation of the prior uptrend could be imminent.

Marks estimates this recovery process for FET could be quite significant before the uptrend resumes. He predicts it will rise nearly by +120% from these levels to levels returning it to its all-time high of $3.485. This would be more than a 2.1x return from here.

Both Posty’s and Marks’ insights instill a feeling of optimism that FET will do well in the markets. If the price manages to break above these critical resistance levels and remain bullish, the next couple of weeks might prove significantly defining for Fetch.AI, with the eyes of the entire crypto community firmly glued to it.

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