BlockchainCrypto Currency News (FET) reclaims key support amid fresh accumulation

  • 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. (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. 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, 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 (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 price is $1.17, reached in September 2021.

The post (FET) reclaims key support amid fresh accumulation appeared first on CoinJournal.

Back to top button
Please enter CoinGecko Free Api Key to get this plugin works.