FET has caught the attention of crypto investors with signals of an impending rally. Pointing out crucial technical signs suggesting a positive breakout, analysts are more hopeful about the coin’s short-term potential. Fetch.ai’s success has been rather consistent despite market uncertainty.

Cryptorphic, a well-known cryptocurrency analyst, has drawn attention to Fetch.ai’s recent growthsaying that FET is up 66% since his previous analysis. This enhance was inspired by a hidden divergence in the RSI, which gave more fuel to the token to continue its rise. He said that if FET manages to break through the resistance level around $1.35, then further growth could be seen, with the price reaching as high as $3-4.

#FET Price updates and technical analysis on a weekly time frame

Since our previous post, FET has gained 66% and is currently facing resistance at the 21 EMA at $1.35.

Hidden divergence in RSI has worked well and bullish momentum remains powerful. When FET breaks above this… https://t.co/AnbfgQeNA4 photo:twitter.com/5pgYsdSQ5x

— Cryptorphic (@Cryptorphic1) September 11, 2024

At the time of writing, FET shares were trading at $1.42, up 7.7% in the last 24 hours and holding steady 27% enhance in the last weekshow data from Coingecko.

FET Price Forecast and Near-Term Potential

The Latest price forecast from CoinCodexwhich shows that Fetch.ai could rise by 14.37% and reach $1,549 by mid-October supports this prediction. This seems very consistent with the general outlook of analysts who believe that this is the right climate for the token. Although the Fear and Greed Index is 31, suggesting fear, Fetch.ai still has quite powerful momentum, recording green days 53% of the time over the past month.

Another cryptocurrency researcher, Nebraskangooner, has revealed a significant inverted head and shoulders pattern on the FET price chart. Usually seen as a positive indicator, this pattern could reverse the trend if the token breaks through the neckline. Nebraskangooner said that this could result in a huge rally, with FET hitting novel highs if the pattern follows the expected trajectory.

$FET (on request)

A powerful inverted head and shoulders formation is noticeable here.

It needs to break through the neckline, but if it does, it has great growth potential. photo: twitter.com/orFdMKy01u

— Nebraskangooner (@Nebraskangooner) September 10, 2024

Investors watch key resistance levels

As the coin approaches critical resistance levels, traders and investors are keeping a close eye on the token. The $1.35 level will therefore be an crucial point to watch, given the possibility of a break above this level, which would trigger buying pressure that could lead to further institutional interest.

Backed by powerful technical performance, Fetch.ai has been showing quite dramatic price swings with 15.53% volatility over the past 30 days. FET’s ability to sustain growth and the predictions of CoinCodex and analysts such as Cryptorphic and Nebraskooner have helped build a lot of hope for its future development. Although there are market concerns, the overall sentiment towards Fetch.ai is positive.

Good investment opportunity?

With everything working in its favor, it might be time to invest in Fetch.ai. From the bullish RSI divergence and powerful technical patterns to the near-constant green days, the case is undoubtedly very enticing for any investor looking to cash in on short-term gains. The potential for long-term growth is still there, with price targets ranging from $10 to $12 if the uptrend continues.

The next few days will be crucial for Fetch.ai’s future as it attempts to break through key resistance points higher. A token breakout could lead to a price rally that could very easily propel Fetch.ai to novel highs, making it one of the top performers in the market. Investors are watching closely, ready to reap the rewards if Fetch.ai continues to grow.

(Fetch.ai, Ocean Protocol, and SingularityNET merge to create Artificial Superintelligence via token merger and continue to trade under the $FET token name — CoinGecko.)

Featured image from Islam-Peacechart from TradingView