• Fetch.ai network completed a Mainnet Upgrade, with validators reaching consensus with 2/3rds of validator voting power.
  • The development has catalyzed a 5% gain in FET price, with early profit booking likely to ensue; 10% losses maybe incoming.
  • Invalidation of the bearish thesis will occur once the AI crypto coin’s price records a higher high above  $0.7952.

Fetch.ai (FET) price has recorded massive volatility with massive candles over the past few weeks, as the AI cryptocurrency coins sector also reacted to the spot Bitcoin exchange-traded funds (ETFs) wave. However, the volatility increased as the countdown to the network’s mainnet upgrade drew close and now the “sell the news” play may be in the works for FET holders after a successful execution.

Also Read: Fetch.ai price risks a 10% drop as the 25-day EMA support lets loose

Fetch.ai completes mainnet upgrade

Fetch.ai network has completed its mainnet upgrade with validators reaching consensus with two-thirds of validator voting power. It occurred at block height 14,699,873 around 15:00 on January 15.

To facilitate the upgrade process, Binance exchange suspended deposits and withdrawals of FET tokens an hour prior to the upgrade.

Fetch.ai price prognosis as FET confronts key EMAs

Measured from a market range of between $0.1989 and $0.7958, Fetch.ai price is sitting above the support from the Fibonacci level at $0.6681. However, it faces stiff resistance due to the centerline of the Bollinger indicator at $0.6857, reinforced by the 25-day Exponential Moving Average (EMA) at $0.6787.

With selling pressure from these blockades weighing heavy on FET, Fetch.ai price is likely to crumble. Meanwhile, both the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) indicators are in the negative territory, effectively pointing to the bearish pull on FET price. This accentuates the bearish outlook.

If profit booking ensues, Fetch.ai price could dwindle, losing the support due to the centerline of the 50-day Exponential Moving Average (EMA) at $0.6336 before tagging the lower band of the Bollinger indicator at $0.6262.

In the dire case, Fetch.ai price could extend a leg lower to tag the most critical Fibonacci level, 61.8% at $0.5678, below which the price would risk invalidating the prevailing bullish outlook by breaching the 50% Fibonacci level of $0.4974.

FET/USDT 1-day chart

Conversely, a closer look at the Relative Strength Index (RSI) shows that it has executed a buy signal, crossing above the signal line (yellow band). Traders heeding this call could catalyze an extended climb for Fetch.ai price.

Increased buying pressure could enable Fetch.ai price to shatter the resistance due to the centerline and the 25-day EMA at $0.6857 and $0.6787 levels respectively.

A flip of these barricades into support could springboard FET price to the upper band of the Bollinger indicator at $0.7454, or in a highly bullish case, send FET to fill the market range at $0.7958. Such a move would denote a 15% climb above current levels.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Crypto Today: BNB, OKB, BGB tokens rally as BTC, Shiba Inu and Chainlink lead market rebound

Crypto Today: BNB, OKB, BGB tokens rally as BTC, Shiba Inu and Chainlink lead market rebound

Cryptocurrencies sector rose by 0.13% in early European trading on Friday, adding $352 million in aggregate valuation. With BNB, OKB and BGB attracting demand amid intense market volatility, the exchange-based native tokens sector added $1.9 billion.

More Cryptocurrencies News
US SEC may declare XRP a 'commodity' as Ripple settlement talks begins

US SEC may declare XRP a 'commodity' as Ripple settlement talks begins

The US SEC is considering declaring XRP as a commodity in the ongoing settlement talks with Ripple Labs. FOX News reports suggest Ethereum's regulatory status remains a key reference for XRP’s litigation verdict.

More Ripple News
Cardano Price Prediction: ADA could hit $0.50 despite high probability of US Fed rate pause

Cardano Price Prediction: ADA could hit $0.50 despite high probability of US Fed rate pause

Cardano price stabilized above $0.70 after posting another 5% decline in its 3rd consecutive losing day. Multiple ADA derivatives trading signals are leaning bullish, but the US trade war impact outweighs the positive shift in inflation indices. 

More Cardano News
Stablecoin regulatory bill receives green light during Banking Committee hearing

Stablecoin regulatory bill receives green light during Banking Committee hearing

The US Senate Banking Committee voted on Thursday to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to establish proper regulations for stablecoin payments in the country.

More Cryptocurrencies News
Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation

Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation

Bitcoin price remained constrained within a tight 8% channel between $76,000 and $84,472 this week. With conflicting market catalysts preventing prolonged directional swings, here are key factors that moved BTC prices this week, as well as key indicators to watch in the weeks ahead. 

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP