Technical analysis by CorrectGuess about Symbol FET on 7/29/2024

The chart shows the price action of Fetch.AI against USDT. There are some important points to note on this chart: Price Action: The price has been moving below a descending trend line (white) for a long time. Support and Resistance Levels: Support Levels: There is a strong support level indicated by a red horizontal line at around $1.00. Resistance Levels: There are resistance levels indicated by yellow horizontal lines at around $1.60 and $1.80. In addition, the white descending trend line also acts as a resistance. Price Targets: Potential Upside: If the price breaks this descending trend line upwards, the first target could be $1.60. Above this level, $1.80 could act as resistance. Potential Downside: If the price breaks the support level downwards, lower levels could be targeted. In this case, it is expected to fall below the $1.00 level. RSI (Relative Strength Index): The RSI indicator is located at alt of the chart. The RSI value is around 47.29, which indicates that it is currently neither overbought nor oversold. The RSI value can provide additional information about the direction of the price. This chart can help traders evaluate Fetch.AI's price action and possible support and resistance levels. Traders can create their trading strategies by considering these support and resistance levels.