• FET forms a triple bottom and falling wedge pattern near $0.30, pointing to a possible bullish breakout if resistance breaks.
• Binance data shows large FET outflows, suggesting long-term holding as investors pull tokens off exchanges.
• If FET breaks $1.20 a move toward $2.35 and $3.20 is imminent.

Fetch.AI (FET) token is now eyeing a possible breakout, with traders watching the $1.20 resistance zone for the next move. FET is currently trading near the $0.30 support level.

Triple Bottom Pattern Suggests a Bullish Setup

A recent chart shared by @spetsnaz_3 shows that FET may be forming a triple bottom pattern. This is a bullish sign often seen before a price increase. The three dips on the chart happened near the $0.28–$0.32 zone, showing strong support at that level.

The chart also shows a falling wedge pattern.If the price breaks above the neckline resistance near $1.20, the next targets could be $2.35 and $3.20. This would mean a gain of more than 1,000% from the current price.Buyers need to step in with more trading activity. 

On-Chain Data Shows Strong Outflows 

Another sign that supports the bullish case for FET is its strong outflows from Binance. The Binance Altcoin Netflow chart shows that more FET is leaving the exchange than entering. This often means investors are moving tokens to hold for the long term.

@spetsnaz_3 pointed out that this is different from what’s happening with other altcoins like MATIC, SNX, and CHZ. Those tokens are seeing more inflows, which can lead to selling pressure. FET’s outflows may signal quiet accumulation before a bigger move.

This change in behavior could show that traders see potential in FET, even while other coins are under pressure.

Short-Term Trend Still Weak Despite Recovery Signs

FET is facing downside risk, the price recently dropped below the key $0.3310 level and is now trading close to $0.30. If it falls further the next strong support is around $0.2270.

The RSI is now oversold, which means sellers might be losing strength. However, for any real recovery to begin, FET needs to move back above $0.3310 and then $0.4350.

At the same time, the broader AI token market is under pressure. Market caps are dropping, and overall interest seems to be slowing down.