- Altcoin FET retest at $0.17 could set the next leg.
- $0.4 remains the next biggest bull target for the altcoin.
- Reclaiming that could open the path to target at $1 and above.
The final quarter of the year is off to an interesting start with the prices of crypto assets having experienced a significant correction following a sharp rise in value. Now, the crypto market is moving towards a recovery phase, one that has yet to begin its bounce towards higher targets. Already several assets are showing strong signs for a recovery like FET retest at $0.17 could set the next leg.
FET Retest at $0.17 Could Set the Next Leg
According to CoinMarketCap analytics, the price of FET is currently trading at the $0.19 price range, meaning the price of the asset is up by over 5% in the last 24 hours. However, in terms of the last 7 days and the last 30 days, the price of FET is down by over 8% and is up by over 6%, respectively. For the altcoin to reclaim its previous ATH target in the $3 price range, it would need to see a surge of over 95%.
CoinMarketCap analytics show that the price of FET just went as low as the $0.17 – $0.18 price range, and is now trading above it. This could mean that FET has completed its retest at the $0.17 price range, which could set the popular altcoin asset up towards its next major leg up. The post above goes on to explain how FET price has broken above the descending trendline and is pulling back toward it.
Yet, the scenario hinges on holding $0.16 -$0.18, an area with previous reactions visible on the chart. A successful retest near $0.17 would strengthen the case for continuation while reclaiming $0.20 – $0.215 brings the former trading range at $0.23 – $0.26 into focus, followed by historical resistance at $0.28 – $0.31. Above that, the 1.618 Fibonacci extension near $0.363 aligns with the next supply zone.
$0.4 Remains Next Biggest Bull Target for the Altcoin
This leads the post to conclude that the larger objective for the price of FET to reclaim sits in the $0.44 – $0.46 price range, approximately 171% above $0.17. However, on the flip side, losing the $0.16 price target would certainly weaken the setup and expose FET towards sinking towards lower price targets between the $0.135 – $0.15 price range.
Adding to that bullish surge expectation, the analyst in the post above says that overall, everything remains on track for FET for now, with accumulation continuing on the lower time frame. Liquidity is building above the price for a further move to the upside, so all that’s left is to wait for a break of structure and an upward move. Thus, the first target remains valid at 0.4600$ in the medium term.
