NAIROBI (CoinChapter.com)— The Fetch AI FET coin is under close watch as Nvidia’s upcoming Q2 earnings report, scheduled for 17:00 (GMT-4), approaches. Nvidia is expected to report strong earnings, potentially impacting AI-related tokens like Fetch AI (FET).
The Fetch AI (FET) coin is priced at $1.26, down 4.97% in the last 24 hours but up 43% over the past week.
Fetch AI’s Coin Technical Indicators Point to Potential Upswing
Crypto analyst Waleed Ahmad noted that Fetch AI (FET) faced rejection at the 382 diagonal Fibonacci level but is now supported by the Daily EMA233. He noted that Aif FET loses this support, it could drop to the 300-period MA on the 4-Hour chart, but staying above $1.4 (618 Fibonacci retracement) could trigger a bullish trend.
Another crypto analyst, CryptoLeo, highlighted that the FET USD pair attempted a breakout but was held back by a decline in Bitcoin’s price. He expects a small correction, potentially reaching the 75% Fibonacci level if Bitcoin drops.
However, if Bitcoin stabilizes, FET could recover quickly, targeting $2 soon.
FET token Eyes $1.5 After Breaking Out of Falling Wedge
Fetch AI (FET) token maintains bullish momentum after breaking out of a falling wedge. Currently trading around $1.292, the FET USDT pair is approaching a key resistance level at $1.5. A successful break above this could push FET toward its previous all-time high of $3.5.
The Ichimoku Cloud on the daily chart shows FET trading above key support levels, with the price positioned above the Kumo (cloud), signaling strong bullish sentiment. Additionally, the RSI at 64.14 suggests the potential for further gains before a possible pullback.
Supporting this bullish momentum is recent whale activity. On Aug. 26, a whale purchased 1.79 million FET coins at $1.33 each, spending $2.38 million in Tether (USDT). The buy suggests confidence in FET’s potential, especially as Nvidia’s upcoming earnings could boost interest in AI-related tokens.
