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FET Breaches Key SMA Level, Will Bears Push Prices Lower?

Author: Content Editor
FET Breaches Key SMA Level, Will Bears Push Prices Lower?
The price of Fetch.ai (FET) has fallen below its 100-day Simple Moving Average (SMA), indicating potential further declines towards the $1 support level. The breach of the 100-day SMA suggests negative pressure may take hold, and market participants are monitoring FET's ability to recover above the SMA to avoid deeper declines. The 4-hour Relative Strength Index (RSI) has also dropped below the critical 50% level, indicating bearish sentiment and growing selling pressure. FET's daily chart shows strong negative strength, with a bearish candlestick pattern pushing the price below the 100-day SMA. The 1-day RSI analysis suggests continued bearish trends, with extended losses expected unless FET can recover above the 50% threshold. While there is the possibility of a reversal if FET manages to hold above key support levels or if buying pressure resurfaces, the current outlook suggests more downside towards the $1 support range.

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