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COINTURK NEWS > Technical Analysis > Market Trends Reflect Investor Sentiment on FET, Ethereum, and AVAX
Technical Analysis

Market Trends Reflect Investor Sentiment on FET, Ethereum, and AVAX

In Brief

  • FET Coin sees an 18% rise but struggles with key resistance.

  • Ethereum faces pressure despite ETF approvals and remains in a parallel channel.

  • AVAX shows weak enthusiasm and struggles to hold above $30.

Fatih Uçar
Fatih Uçar 6 months ago
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The first quarter of 2024 was promising for cryptocurrency traders, but it was followed by challenges. Bitcoin’s price has repeatedly touched both its lowest and highest points without breaking through. Moreover, while altcoins lost value during Bitcoin’s downturn, they did not gain sufficiently when the market rallied. What are the latest predictions for FET, Ethereum $2,356, and AVAX?

Contents
FET Coin InsightsEthereum PredictionsAVAX Forecasts

FET Coin Insights

The three popular AI altcoins have joined forces, amplifying their market impact. As OpenAI fuels enthusiasm in the AI sector, AI tokens have significantly appreciated since late 2020. However, the rise of AI-driven meme coins like GOAT has diverted investor attention towards these assets, promising quicker returns.

Thanks to electoral influences, the price of FET Coin increased by 18% in the past two days. Currently priced at $1.24, FET Coin has yet to reclaim the critical resistance at $1.35 but shows signs of recovery. If the upward trend continues, it may attempt to reach $1.72.

Ethereum Predictions

Despite ETF approvals, Ether has not garnered the expected attention. As Bitcoin $102,741 attempts a new all-time high, ETH faces pressure, and this trend may persist for a while. For 92 days, ETH has been trading within a parallel channel and is now testing its lower range after multiple peaks.

A movement back to $2,745 would not be surprising from this position. However, overcoming this key resistance could lead to $2,816 becoming support, allowing for attempts towards $3,487. For now, subdued movements are likely to continue.

AVAX Forecasts

While $22.6 remains a support level, enthusiasm around AVAX is currently weak. As SOL Coin reaches new heights, AVAX appears to be stagnating at last year’s levels. AVAX struggles to maintain its position above $30, and a significant rise could target $50 if $31.75 is reclaimed as support.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 5 November, 2024 - 9:26 pm 5 November, 2024 - 9:26 pm
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