FET/USDC - (BUY) FET reached 1,79 as expected and keeps significant upside potential

Fetch.ai – FET/USDC

Date: 30/11/2024 
 
Horizon / Timing:  Tactical Mid-term / 1 to 3 months 
 

Scenario:  

FET recently activated a merge towards #ASI. The Artificial Superintelligence Alliance (ASI) token merger, involving SingularityNET, Fetch.ai, and Ocean Protocol, suppose to be implemented in a two-phase process starting on July 1, 2024. Phase 1, consolidation of SingularityNET's AGIX and Ocean Protocol's OCEAN tokens into Fetch.ai's FET, before transitioning to the ASI ticker in final Phase. 
 

The merger was occurring in a complex period for the crypto market (pause in wave 4 with complex trading range now with BTC) - HOWEVER - the setup is quite clear on FET. 

The conviction is high, once the global crypto market will start the trend to 100K BTC we can open the doors to 4,70 on the long run – we are here now. 

On current level, 1.45 is defined as key tactical support to keep the bullish set up valid towards 2.10 and 2,75 in a first step before 4,80. 

Technical Key Elements: 

- Auto similar move potential shows target at 0,70 (Devastation C target abc X abc) 
- RSI indicator confirmed bullish signal 
- The Moving average are now support 
- Fibonacci key support is adjusted at 1,45 while the Elliot wave shows upside potential towards 2,75 and 4,80 

 
Trade Idea conclusion:  Buy  

Target 2: 2.75 

Target 1: 2.10 

Tactical support (pivot): 1,08 (Daily close) 

Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 
 

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