Fetch.ai (FET) is moving in a downward price trajectory despite the early signs of stability in the crypto market. According to CoinMarketCap, the FET price has surged by 3.75% over the last 24 hours but remained stable over the last week.

At the time of writing, FET is trading at $0.2359, with a trading volume of $179.57 million, which has surged by 9.29% over the last 24 hours. However, its market capitalization stands at $532.8 million, which is down by 3.61%.

Source: CoinMarketCap

Also Read: Fetch.ai (FET) Bullish Signals Point to an Explosive Breakout Toward $2

FET Weekly Chart Signals Potential Bullish Breakout

Furthermore, the crypto analyst WHALE OF CITY pointed out that FET is showing a strong bullish structure on the weekly timeframe, with price action reflecting a clear accumulation phase. 

Repeated consolidation and weakening sell pressure suggest larger participants may be quietly building positions. Higher lows and sustained support levels indicate improving buyer strength and a gradual shift in momentum toward the upside.

Source: WHALE OF CITY’s X Post

In the short to medium term, market expectations lean toward continued upside expansion if support holds and broader conditions remain stable. 

The $0.50 level is being watched as a key target and potential liquidity zone. If bullish momentum continues, this area could act as a magnet during the next impulsive move upward.

Technical Outlook Points to a Recovery Phase

According to TradingView, the recovery stage is seen in the FET after a strong decline to around $0.14 during February’s second half. 

Trading close to $0.237, FET has managed to cross above its 20-, 50-, and 100-day simple moving averages, indicating positive sentiments in the short term. Nevertheless, the 200-day SMA at $0.261 still poses as a key obstacle to the upside.

Source: TradingView

The technical indicators show that the uptrend is losing momentum. In fact, the MACD has made a bearish crossover, whereby the MACD line remains below the signal line, accompanied by an increasing red bar histogram. 

This type of configuration usually results in consolidation or retracement. It is important that the support level at $0.235 holds to prevent any deeper retracement.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: FET Price Outlook: Can FET Reach $0.270 After Testing Key Resistance Zone?