FET trades above major long-term support zone. Several key resistance levels lie ahead for the altcoin. How high will the price of FET surge this year? The crypto community is pleased to see
The crypto community is pleased to see the pioneer crypto asset, Bitcoin (BTC) trading over the $64,000 price level once again, just as the final week of July approaches. At the moment, reputed analysts are keeping a close eye on the price movements of several promising altcoins, one of which is FET. Presently, sentiments are high as FET trades above major long-term support zone.
According to CoinMarketCap analytics, the price of FET is currently trading in the $0.15 price range, meaning that the asset is up by over 5% in the last 24 hours. However, on the 1-month chart, the price of FET is down by over 6%, while on the yearly chart, the asset is down by about 78%. Analysts are now noticing several bullish signals forming on the FTE price chart and are hoping to see an explosive run soon.
https://twitter.com/TakePr0fitN0w/status/2081126104731996304As we can see from the post above, the price of FET is trading above a major long-term support zone, with several key resistance levels defining the next bullish expansion. After a prolonged correction, price has stabilized near the lows and continues to defend the same area where buyers have repeatedly stepped in. Based on this observation, the expert believes that as long as this support holds, the higher timeframe structure remains constructive.
Having said that, he explains how the first major target sits around the $0.99 price range. This level previously acted as an important support before the breakdown, making it the first key resistance buyers need to reclaim. A successful breakout above $0.99 would significantly strengthen bullish momentum. The next objective is located near $2.20. This zone marked a major consolidation area during the previous cycle and could temporarily slow the advance as sellers return.
Therefore, the post goes on to state that if bulls manage to reclaim $2.20, attention shifts toward the final resistance. The highest target stands around $3.46, which represents the previous all-time high region. Breaking above this level would complete the recovery from the bear market and potentially send FET into price discovery. The projected move toward the final target represents approximately +3,600%, making FET one of the strongest long-term recovery setups in the AI sector if the broader market remains supportive
