Fetch.AI (FET) Breaks Out of Descending Wedge, Price Jumps 4.88% as Volume Spikes 48.75%

Fetch.AI (FET) has experienced a significant technical breakout following the confirmation of a descending broadening wedge pattern on its daily chart, triggering renewed bullish momentum. The price surged past the upper boundary of the wedge in mid-July, marked by a 48.75% spike in trading volume to $125.5 million and a 4.88% price increase over 24 hours, with FET trading at $0.77732 [1]. This breakout was validated by a subsequent retest of the former resistance level, which has now become structural support at $0.7281, signaling a shift in market sentiment [1].

Technical analysts using measured move calculations estimate a potential rally toward $1.234, representing a 57.36% gain from the breakout level [1]. The retest of the wedge’s boundary reinforced buyer conviction, with price action holding above $0.7281 and fluctuating within a 24-hour range defined by $0.7281 (support) and $0.7792 (immediate resistance) [1]. Elevated trading volume during this consolidation phase suggests increased market participation, while a 4.85% rise in market capitalization pushed FET’s total valuation to $1.85 billion [1].

The pattern’s completion, confirmed by a continuation candle above $0.77, aligns with historical resistance-turned-support dynamics. However, short-term traders remain focused on $0.7792 as a potential ceiling before further upward movement [1]. Analysts note that sustained volume above current levels and adherence to key support at $0.7281 will be critical for maintaining the bullish trajectory, though immediate resistance at $0.7792 could test near-term momentum [1].

Source: [1] Fetch.AI Rockets After Wedge Breakout: Bullish Continuation Targets $1.234, [https://coinmarketcap.com/community/articles/6889b600b68c6f644094b2db/](https://coinmarketcap.com/community/articles/6889b600b68c6f644094b2db/)