Market & Ticker: Fetch.ai – FET/USDT 

Date: 30/08/2023 

 
Horizon / Timing:  Tactical Mid-term / 1 to 3 months 
 
 

Scenario:  

FET is evolving within a downside consolidation pattern since the beginning of the year which could end soon regarding the test of the moving average and the RSI Indicator bac to 50% area. At the current level the recovery is not yet confirmed however considering the test of 0,1550 as a significant low associated to the test of the actual resistance, the configuration leans towards a direct bullish exit tentative. 
 
At the current price the potential of FET Token stands at 0,3600 maximum. On the near to mid-term basis 0,1790 is acting as robust support to add in dip in the 0,22 area. 

Technical Key Elements: 

- Auto similar move potential shows target at 0,36 
- RSI indicator is at 50% 
- The Moving average are still resistance 
- Fibonacci key support is adjusted at 0,1790 while the Elliot wave shows upside potential towards 0,2650 and 0,36 before 0,60 

 
Trade Idea conclusion: Buy - Conviction: 

Medium

Target 2: 0,36 (60%) 

Target 1: 0,2650 (20%) 

Buy: add in dip area 0,22 

Stop: 0,1790 (Daily close) 

Chart: Daily Basis (Candle Stick) - Logarithmic  

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