FETUSD Chart Analysis Source: Tradingview.com<\/figcaption><\/figure>\nBullish momentum for FET was bolstered by a double bottom formation around $2.37, fueling a surge in price within a rising channel pattern, as investors set their sights on achieving further record highs.<\/span><\/p>\nFET is trading well above the 200-day Simple Moving Average (SMA), which confirms the bullish outlook of the price. If the bulls sustain the bullish stance, the price will finally be able to overcome the 50-day SMA barrier at $3.30, which will allow FET to soar to even higher price levels.<\/span><\/p>\nAdditionally, the Relative Strength Index (RSI) on the 30-minute timeframe is currently trading downwards to the oversold levels at 34, which shows that the asset is currently oversold. The RSI coincides with the current price downtrend from the ATH.<\/span><\/p>\nFetch.ai Price Prediction<\/span><\/h2>\nThe Fetch.ai price is currently on a downward movement, having plunged 8% from its ATH. However, the major indicators show signs of a trend reversal, with FET trading within a rising channel pattern.<\/span><\/p>\nAdditionally, the 50-day SMA trades above the 200-day SMA, forming a golden cross at $2.49, indicating that FET has the potential for upward movement. The RSI is already trading within the oversold levels, which may suggest an incoming trend reversal to the upside.<\/span><\/p>\nFET bulls are targeting a new ATH over $3.45 at $4.00, which is only 25% off the current price.<\/span><\/p>\nHowever, if the bears continue exerting pressure on the price and taking profits from the 184% surge in FET seen in the last month, the price may retrace. In such a scenario, the bulls may find support at $2.97, which coincides with the 200-day SMA. This may allow the bulls to catapult the price.<\/span><\/p>\nMeanwhile, as the FET bulls find better buying positions to soar the price, you may want to consider its alternative, 5thScape, as analysts predict that the project may soar 100X on launch.<\/span><\/p>\n