Fetch.ai (FET) reclaims key support amid fresh accumulation
- Fetch.ai eyes upside bounce as Indonesia’s largest exchange adds FET
- FET daily trading volume spikes 47% as price reclaims support above $0.60.
- A broader bullish market could see FET break to $1 and target new all-time high.
Fetch.ai (FET) price was down 9% on Thursday as the declines across the crypto market saw most coins pare gains seen in the last week of December and early January.
But while FET traded at lows of $0.65, the token’s listing on Indonesia’s largest crypto exchange and an expected uptick across crypto could see bulls target a notable bounce towards the crucial $1 level.
Fetch.ai price outlook
After gaining more than 40% in the past month as price reached highs of $0.78, FET gains in the last 30 days are down to 28%. The token is in the red over the past fortnight.
However, Fetch.ai remains in a strong position given the bullish sentiment surrounding crypto and the expected buoyance from the 2024 AI narrative.
Short-term, the listing of FET on INDODAX (the largest cryptocurrency exchange in Indonesia), could add to recent retail interest in the project.
On January 4, INDODAX added FET/IDR, and the listing coincided with an uptick in trading volume for Fetch.ai (FET). According to data from CoinGecko, over $171 million worth of FET had been traded in the last 24 hours as of Thursday morning. This represented a 48% increase.
The jump in daily volume comes as FET price looks to hold above the key $0.60 area. The token has retested this as support and fresh accumulation here could see buyers target $0.80.
If the resistance zone flips into support, a bounce to $1 could open FET/USD to a potential spike amid price discovery. The all-time high for Fetch.ai price is $1.17, reached in September 2021.
The post Fetch.ai (FET) reclaims key support amid fresh accumulation appeared first on CoinJournal.
