Fetch.ai is a blockchain platform powered by artificial intelligence (AI) which brings many benefits to decentralized peer-to-peer transactions. This innovative platform has been popular among the crypto community in 2021, as witnessed by the steep appreciation of the Fetch.ai token (FET). However, in the last 24 hours, FET price has slipped by 8%, indicating a possible downward movement towards its recent support zone.

A closer look at the price chart reveals a positive formation such as the bullish pennant which is usually taken as a sign of further upside movement. Nevertheless, the technical indicators such as the relative strength index (RSI) flipping downside from the oversold territory and a decreasing MACD point to a possible bearish outlook. Should the bears take charge, we might see FET seeing near the $0.34 support level with the $0.25 -$0.29 zone offering much-needed assistance.

On the flip side, should buyers kick in and start to send prices higher, FET could hit the February highs of $ 0.60. But this scenario might only come to life if the token surges past the $0.40 level, as it is currently seen as the main resistance before a +60% breakout. All in all, how the buyers and sellers react in the near-term will determine the future price trajectory of the Fetch.ai token.



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