Fetch.AI Price Prediction 2023: Will FET Price Hit $1?

Key Takeaways:

• The Fetch.AI price began with a massive upswing much before the start of 2022 and surged massively by more than 400% to mark highs beyond $0.3
• The bullish momentum which is accumulating may keep up the trend which may elevate the prices in the coming days
• The FET price is attracting many traders as the MVRV ratio and the daily active addresses has surged notably

Additional Read: Shiba INU Price Prediction

Fetch.AI Price History

• The platform was founded in 2017 and launched via IEO on Binance in March 2019 with a price around $0.4 but fell down to $0.02 by the mid of 2020

• With the beginning of the 2021 bulls run the price inflated to reach $0.8 in first half and bottomed to $0.18 
• The price further resumed with a massive bull run and surged beyond $1 to hit $1.19 by the end of Q3, 2021 and quickly entered an steep bearish trend
• The price further maintained a steep bearish trend  throughout the year 2022 and marked the bottoms at around $0.057 by the end of the year
• However, since the beginning of 2023, the price maintained a notable upswing to reclaim the lost positions at the earliest

Fetch.AI Technical Analysis

Source: Tradingview

• The price began to surge within a rising channel since the beginning of the year and slowly expanding the resistance and support levels within the channel
• The recent bounce from the lower support indicates the rally being under a bullish influence and may continue to rise high towards next targets
• With the continued trend, the FET price may eventually reclaim the levels above $0.3 initially and later head towards $0.35 to reach the upper resistance of the channel
• However, the expanding rising channel is usually considered as bearish but a bullish breakout beyond $0.4 may invalidate the bearish thesis

Overview of Fetch.AI On-chain Analysis:

Fetch.AI Daily Active Address

Source: Santiment

The daily active addresses(DAA) account for the number of addresses that interacted with the platform in a day. Every address is counted only once a day regardless of whether the address carried a buy trade, sell trade, or just swapped the tokens. The DAA displays the interest of the market participants in the platform. A rise may indicate heavy indulgence of the traders and a drop indicates a shift of focus away.

The DAA of FET has risen heavily in the past few days and has surged iconically to close to 1000 from levels below 100 in just a few months. The active addresses continue to maintain at the higher levels, indicating the participants are constantly carrying out trade and hence larger chances of the price maintaining its volatility that could impact the price largely.

Fetch.AI Supply Held on Top Addresses

Source: Santiment

The supply on the top addresses indicates the number of tokens held by those addresses that hold large amounts of FET tokens. Market participants become pretty bullish with the price if the supply on top addresses that can also be considered as whales surges. They speculate the bullish momentum could prevail for a long and hence could start accumulating which may add up to the price rise. 

Presently, the supply on these top addresses has dropped heavily by the end of 2022 and hence the upswing that ignited in 2023 may have recovered with the levels. Therefore, as these addresses begin to accumulate, then a positive impact could be witnessed over the price that may impact the price on a positive note ahead

Fetch.AI MVRV Ratio

Source: Santiment

The MVRV or the Market value to Realized value shows the ratio between the current price and the average price of the token. The more the ratio increases, the more people are willing to sell as the potential profits increase. The ratio gives an idea of whether the token is undervalued or overvalued. 

The MVRV ratio has been on the positive node for quite a long time which indicates the value has been overvalued and hence the market participants could begin to mount enough selling pressure. However, despite reaching the average levels, the levels have again rebounded which indicates the traders willing to buy the token again. 

Read More: Predictions For Crypto & Blockchain In 2023

Fetch.AI Price Prediction for 2023

The Fetch.AI price remained draining ever since the token marked its highs during the last few months of 2021. After maintaining a steep bearish trend throughout 2022, the price marked the bottom before ending the yearly trade on a bearish note. However, the price trend flipped to extremely bullish since the beginning of 2023 which gained enough profits to its value. Therefore, the price could head towards its main target to reach a whole number in 2023.

The price may close the Q1 2023 above $0.5 and face a minor pullback. During the Q2 trade, the price may rise beyond $0.55 and try to reach $0.6. However, during the Q3 trade, the FET price may surge to reach $0.63. After witnessing a minor bearish action, the price could end the yearly trade above $0.8 but may not reach levels above $1. 

Fetch.AI Price Prediction for 2024 

The beginning of the year could be pretty consolidated in an attempt to reach $1 during the first few weeks of 2024. Further, after regaining bullish momentum, the price may eventually reach the milestone by the end of Q1 2024 and mark a new ATH. Later during Q2 2024, the price may continue to discover new highs close to $1.5.

During the second half of 2024, the price could start with a notable upswing and may even begin with a minor bull run too. The price may reach beyond $1.8 in the third quarter of 2024 and after withstanding some bearish pressure continues to mark new highs by the end. However, the FET price may attempt to reach beyond $2 by the end but after making highs beyond these levels, may end up hovering around $1.95.

Fetch.AI PRICE PREDICTION 2025-2030

The Fetch.AI price may continue with the bullish momentum since the beginning of 2025 and reach highs during Q1 2025 and quickly drop within a steep bearish trend. After consolidating heavily throughout the year 2026, the year 2027 may witness a slight recovery and reclaim the levels above $2. 

Further, in 2028, the price could again undergo a firm upswing and after withstanding some bearish actions may ignite a bull run in 2029. The price is expected to rise notably and form highs around $2.8 to $3.2. By the end of 2030, the FET prices are believed to settle around $4 to $4.5 or an extended bull run may lead the prices close to $5.

Should you invest in Fetch.AI in 2023? 

Fetch.AI began the trade under extreme bearish interference and despite the 2021 bull run, the price still traded within the descending trend. Therefore, after undergoing extreme compression the price could explode heavily in the coming days. However, before investing one needs to carry on deep research on the fundamentals and the project. Moreover, observing the chart pattern is also imperative before investing in FET or any other token.

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