Fetch.ai (FETUSD) Market Overview

• Price fell 4.6% over the last 24 hours with a bearish close on a key bearish candle
• Momentum turned negative with RSI approaching oversold territory
• Volatility increased on sharp downward moves, though volume remained muted
• A potential support zone formed at $0.615–0.605 amid failed rebound attempts
• Bollinger Bands show a contraction followed by expansion, suggesting a breakout could be imminent

Fetch.ai (FETUSD) opened at $0.626 on 2025-09-03 at 12:00 ET, hit a high of $0.626, fell to a low of $0.597, and closed at $0.597 at 12:00 ET on 2025-09-04. Total volume was 1,749.1 FET, with turnover amounting to $1,088.90 USD over the 24-hour window.

Structure & Formations

The price action showed a distinct bearish bias throughout the session, with a key bearish reversal candle forming at $0.625–0.615. This candle, accompanied by volume, suggests rejection of the prior range. The formation of a 61.8% Fibonacci retracement level at $0.605–0.615 appears to be a new support zone. A potential continuation pattern is emerging, with price action failing to retest prior resistance levels above $0.624, indicating bearish sentiment.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a bearish crossover, reinforcing downward momentum. The 50-period MA on the daily chart is above the 100-period and 200-period, indicating a longer-term bearish bias. FETUSD is trading below all key moving averages, which may signal continuation of the current downtrend unless a strong reversal occurs.

MACD & RSI

The MACD is in negative territory with a bearish crossover, suggesting sustained selling pressure. RSI has dipped into oversold territory (~30), which may indicate potential for a short-term bounce, but given the overall bearish structure, a reversal to the upside is unlikely to trigger a meaningful trend change. A failure to break above the 50 level on RSI may signal continued bearish momentum.

Bollinger Bands

Bollinger Bands are currently in a contraction phase, having narrowed near $0.615, suggesting potential for a breakout. Price action is now testing the lower band, and a break below $0.597 could extend volatility. The recent expansion in the afternoon session indicates increasing uncertainty and a possible continuation of the downward move.

Volume & Turnover

Despite sharp price moves, volume remained relatively low, with a few spikes at key price levels such as $0.626, $0.62, and $0.597. The largest volume spike occurred at $0.62–0.622 with 978.3 FET traded, coinciding with a bearish breakdown. Turnover was concentrated during sharp price declines, suggesting liquidation pressure rather than accumulation.

Fibonacci Retracements

A major Fibonacci retracement level at $0.605 has been tested twice, with price failing to close above this level. This suggests it is becoming a strong support zone. The 38.2% level at $0.615 is acting as a dynamic support/resistance, and a break below that could target the 23.6% at $0.62. The 61.8% level at $0.597 is now the key watchpoint, with potential to act as a catalyst for further bearish moves.

Backtest Hypothesis

The backtesting strategy described is based on identifying sharp volume spikes at key Fibonacci levels and confirming them with candlestick patterns such as engulfing or bearish hammers. Given the recent volume spike at the 61.8% Fibonacci level and the bearish reversal candle that followed, a backtest could target a short entry just below $0.615 with a stop above $0.625 and a target at $0.605. This setup is consistent with the current price action and may validate the strategy’s effectiveness in volatile, low-volume environments.