FET Soars with Bullish Pennant Breakout, Setting Sights on $0.9 Price Target

"Captain Faibik predicts bullish rally for FET as Fetch.ai's native coin breaks out, reaching $0.9"

Captain Faibik, a well-known Twitter personality, has confirmed a bullish breakout on FET, the native coin of the Fetch.ai network. Using the daily chart, Faibik illustrated the trend where the price displayed an upside breakout and retest. From his analysis, Faibik projected FET to rally to $0.9 from the current price level.

FET has been trending sideways since reaching a yearly high of $0.6 in February 2023. The rally that pushed the FET price to $0.6 started at the beginning of the year when FET traded around $0.09. By rallying to $0.6, FET gained over 580%, representing one of the most profitable cryptos in the market this year.

According to data from TradingView, the FET price retraced and has remained in consolidation for the past 10 weeks, trading between $0.29 and $0.5. In the process, the FET price developed one of the recognizable patterns in technical analysis, the Bullish Pennant.

By confirming the upside breakout of the Pennant, Faibik asked his followers to send the FET price higher. In other words, he issued a buy signal with an illustrated target of more than 100% gain from the price as of the time of the analysis.

FET is the native crypto of the Fetch.ai network, a blockchain platform that uses artificial intelligence to facilitate everyday tasks. It promotes the decentralization of transactions on the internet and executes tasks on behalf of users based on preset parameters.

Recently, Fetch.ai raised $40 million to support the development of tools that facilitate communication and actions among AI-powered tools. The network claimed the tools would focus on autonomous agents, networking equipment, and decentralized machine learning.

It is important to note that the views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Martin Reid

Martin Reid

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