The price of Fetch.ai (FET) is attracting trader attention as it consolidates around the critical $0.24 support level. This zone, identified as a daily order block, has historically acted as a significant area of institutional interest and is now being tested following a period of sideways-to-downward movement.
Analyst Crypto Patel highlighted that a recent sweep of sellside liquidity below prior lows has likely triggered stop-loss orders, clearing out weaker sellers and potentially reducing immediate downside pressure. Following this event, FET's price action has become notably tight and compressed just above $0.24, with declining volatility. This behavior is often interpreted as a sign of accumulation, where buyers are absorbing supply without urgency, rather than distribution.
The technical setup outlines clear liquidity targets above the current price if upward momentum resumes. Key levels to watch are $0.2842, $0.3425, $0.3900, and the previous monthly high near $0.4600. The proposed trading framework suggests entries near $0.2412, with a strict invalidation point below $0.19, which would break the order block and negate the bullish structure.
As of the latest data, FET is trading at approximately $0.2347, down 4.3% over 24 hours, with a market capitalization near $542.7 million. Notably, trading volume has declined over 13% during the pullback, indicating cooling momentum rather than aggressive selling.
