Yesterday, Crypto Tony, a renowned crypto trader, and analyst, took to Twitter to share his insights and potential forecasts for Fetch.ai (FET). After analyzing the FET/USDT 3-day chart, Tony suggests that FET may appeal more to short-term investors than those seeking a long-term investment opportunity. His professional analysis provides valuable information for those interested in the crypto market.
The trader’s final analysis posits that FET’s long-term prospects hinge on its ability to establish a solid foundation at the $0.26 mark. The trader anticipates continued downward pressure on FET until such stability is achieved, with a potential dip to the $0.12 support level before any upward momentum can be expected.
As of the latest update, FET was exchanging hands slightly above the pivotal $0.255 support level highlighted by Crypto Tony, settling at $0.2686 despite a decline of over 7% in the past 24 hours. This has further dragged down the cryptocurrency’s weekly performance, with FET plummeting by -17.28% in the last seven days.
The recent decline in FET’s value has resulted in a corresponding decrease in its strength against Bitcoin (BTC) and Ethereum (ETH), with a drop of approximately 4.33% and 5.08%, respectively, over the past day. The altcoin’s 24-hour trading volume has also experienced a slight dip of 0.78%, settling at $38,305,084.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
