Fetch.ai Price Prediction 2021 – Will FET Hit $1.13 Soon?

Fetch.ai Price Prediction 2021 - Will FET Hit $1.13 Soon?
  • Bullish FET price prediction ranges from $0.97 to $1.02.
  • FET price might also reach $1.13 soon.
  • FET bearish market price prediction for 2021 is $0.74.

In Fetch.ai (FET) price prediction 2021, we use statistics, price patterns, ADX, and much other information about FET to analyze the future movement of the cryptocurrency

Fetch.ai is a platform that connects devices and algorithms in the Internet of Things (IoT) so that they can learn together. Based on high-throughput sharded ledger, FET provides smart contract functions, realizes machine learning and artificial intelligence solutions, and realizes decentralized problem solving. These open source tools are designed to help users build ecosystem infrastructure and deploy business models.

According to CoinGecko, the Fetch.ai (FET) price is trading at $0.91 with a 24-hour trading volume of $112,517,155, at the time of writing. However, FET has increased by 5% in the last 24 hours.

Moreover, FET has a circulating supply of 688,117,804 FET. Currently, FET trades in cryptocurrency exchanges such as Binance, HitBTC, Gate.io, Coinbase Exchange, and KuCoin.

Fetch.ai (FET) Price Prediction 2021

Fetch.ai (FET) holds the 138th position on CoinGecko right now. FET price prediction 2021 is explained below with a two hour time frame.

FET/USDT Triangle Pattern (Source: TradingView)

The above chart shows the Symmetrical Triangle patterns. Generally, a symmetrical triangle is made of a downward diagonal upward trend line and an upward diagonal downward trend line. When there is a price increase, it will inevitably break through the upper trend line to break, and in an uptrend, the price will increase or break. A lower trend line develops a breakthrough and a downward trend in which prices drop.

In the above chart, it is possible for the FET to reach $1.02 if the bull trend continues. Or else, if the price of the FET breaks the resistance level of $0.85, it will fall to the next support level at $0.78. So, the trend of the FET is based on the breakout.

Fetch.ai (FET) Support and Resistance Level

The below chart shows the support and resistance level of FET.

FET/USDT Support and Resistance Level (Source: TradingView)

From the above time frame, it is clear the following are the resistance and support levels of FET.

  • Resistance Level 1 – $0.97
  • Resistance Level 2 – $1.02
  • Resistance Level 3 – $1.13
  • Support Level 1 – $0.78
  • Support Level 2 – $0.74

The charts show that FET has performed a bullish trend over the past month. If this trend continues, FET might run along with the bulls overtaking its resistance level at $1.13.

Conversely, if the investors turn against the crypto, the price of FET might plummet to almost $0.74, a bearish signal.

Fetch.ai (FET) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of FET. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line. 

The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators. 

FET/USDT ADX(Source: TradingView)

The above chart shows the ADX of FET stays above the range of 59.12, so it indicates a very strong trend.

Conclusion

The FET is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term FET price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $1.17 this year. However, this will only happen if it breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the FET ecosystem, it could experience a great future ahead in 2021. It may reach $1.02 soon and it might even reach high heights, however reaching $1.13, if investors have planned that FET is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.