Cryptocurrency
Analyzing Fetch.ai's Price Momentum and Potential Decline
Monday. July 22 at 1:00 AM
1 min. readFetch.ai's (FET) price is currently experiencing a bullish trend but is also at risk of a downturn. The recent surge in profits has led to a possibility of profit-taking, which may push FET back to $1.04. The rise in FET's price has resulted in significant profits, with around 748 million FET worth over $1.06 billion becoming profitable this week. This increase in profit-bearing supply, coupled with the merger of Fetch.ai, Ocean Protocol, and SingularityNET, could lead to profit-taking. If intense, this could cause FET to lose its support level of $1.40 and potentially drop to $1.20 or $1.04. However, if the support holds, FET could rally towards $1.71. It is essential to conduct thorough research and seek professional advice before making any financial decisions in the volatile crypto market.