FET (Fetch.ai) appears to have completed a wave 2 pullback and looks set for the next move up towards $1.1Price swung below the bottom of the wedge, tested the S1 daily pivot and 61.8 Fibonacci golden pocket. It quickly recovered with a bullish engulfing daily candle negating the 3 previous days bearish price action.
A close above the top wedge line and daily pivot will be the signal to go long again.
Analysis is invalidated below $0.54 and that will bring up a downside target of $0.34 which is the ascending macro support from June 2023.
Safe trading
MSc Financial Economist, Studying PhD in Investing and Social Mood, Technical Analyst 6+ years, Investor 13+ years
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
MSc Financial Economist, Studying PhD in Investing and Social Mood, Technical Analyst 6+ years, Investor 13+ years
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.