36 The Fetch.AI (FET) Monthly Macro OutlookFetch.AI (FET), the artificial intelligence-based blockchain protocol, is approaching a significant monthly close that could confirm an extended bull run, according to recent analysis.Technical Evidence for the Bull CaseAs it currently stands, FET appears poised to close February decisively above the $0.70 resistance level. From a macro perspective, a monthly candle close sustaining this breached barrier would signal undeniable bullish momentum. It would verify FET’s rising channel structure and likely price exploration towards the next threshold around $9-10. Furthermore, any temporary retraces should provide opportune entry points for traders before an eventual breakout higher. The network and narrative fundamentals around Fetch.AI remain favorable, with the protocol actively leveraging AI to enable automation, optimization, and efficiency on a decentralized basis.Risk ManagementIf the monthly close fails to hold above $0.70, the bull case will be invalidated. Additional downward pressure may emerge in that scenario, likely bringing the $0.50-$0.60 area into scope. Therefore, prudent risk management suggests a monthly closing stop just below $0.70.Final ThoughtsIn summary, traders may want to keep a close watch on FET’s monthly close. Sustaining above $0.70 would unlock the next bull run towards $9-10 medium term. We could see some choppiness and retests of that level. But overall, the technicals and fundamentals align for a substantial upside. Any retraces should offer low-risk opportunities for rides to new highs.Join TelegramJoin Twitter
