Fetch.ai’s FET Token Nears Breakout at $0.75 Resistance

Fetch.ai’s native token, FET, has been forming higher lows since 2022 and is currently testing a strong weekly resistance zone near the $0.75 mark. This resistance zone has been a significant barrier since early 2022, with multiple failed attempts to break through it. The token is now consolidating within a symmetrical triangle pattern, which has been forming since 2023. This pattern is typically considered a continuation pattern, and with the token currently above the support trendline, the probability of an upward breakout increases.

The $0.72 level is particularly important for traders, as closing above it could lead to much higher prices. A 24-month triangle shows a strong setup that might lead to a breakout toward the $2.40 price level soon. The horizontal zone spanning approximately $0.65 to $0.75 has acted as a significant resistance region since early 2022. Multiple attempts to break past it have failed, underscoring its importance. This area is shaded clearly on the chart, reinforcing its relevance in current price action.

Market sentiment has shifted following FET’s weekly close near $0.75. This level, precisely $0.72, served as a confluence zone—both horizontal resistance and downtrend boundary—now potentially flipping to support. Holding above this range over multiple weekly closes may validate the pattern’s bullish breakout, offering confidence to traders. The upward trendline from mid-2022 remains intact, showing consistent buying pressure on dips. As long as price respects this diagonal support, bullish scenarios remain valid. Failure to hold $0.72 would put focus back on the triangle’s lower boundary near $0.50.

Fetch.ai previously tested these resistance levels during its bull run in early 2024, where prices surged above $1.20. However, strong rejection followed, pushing the token back below the $0.40 level. Since then, the asset has formed higher lows, building the base for the current structure. The pivotal question for traders remains: could this breakout trigger a multi-year rally for Fetch.ai? Based on the chart, a confirmed break above the triangle could open upside targets near the $1.80 to $2.40 levels, previous areas of heavy consolidation.

The symmetrical triangle formation spans nearly 24 months. This duration adds strength to the pattern’s reliability. Typically, the longer a consolidation pattern, the more explosive the breakout becomes. The entire price structure reflects accumulation supported by strong fundamentals in the AI and blockchain narrative. With volume expected to rise on breakout, traders and analysts will closely watch for confirmation candles over the next few weekly closes.