Fetch.ai (FET) Has Broken Out of a Classic Cup and Handle Pattern

Fetch.ai (FET) has experienced a breakout from a classic cup and handle pattern, signaling a possible shift toward bullish momentum in the short to mid-term. Over the past week, the token has seen significant gains, rising nearly 25%. Looking at the larger time frame, FET has soared almost 58% in the last 30 days.

Chart: FET/USD 4H

The cup and handle formation, a setup commonly used in technical analysis to identify potential trend reversals, is unfolding on the 4-hour chart of FET/USD.

After reaching a multi-month low earlier this year, around February 2025, the price of FET showed signs of stabilization and began forming a rounded bottom. This pattern, typically referred to as a “cup”, usually indicates an accumulation period by buyers following a sustained downtrend.

The formation of the cup was followed by a “handle”, which is a short-term price pullback that stays within a defined range after the price rallies. This setup, known as a cup and handle, is widely regarded as a bullish continuation pattern in technical analysis and is closely watched by traders for potential breakouts.

The breakout occurred on May 13, when FET/USD broke above the $0.95386 resistance level, completing the cup and handle pattern. This move triggered renewed buying interest, pushing the price even higher.

At press time, FET is trading around $0.818, having pulled back slightly from the breakout level to retest it. If this retest holds, it could act as a launchpad for further upside.

Technical targets following the breakout point include $1.20, $1.60, $1.80, and $2.20, based on historical resistance levels and measured move projections. Support levels to watch on the downside are $0.607 and $0.404, which represent the lower bounds of the handle and cup, respectively.

Overall, the cup and handle breakout places FET in a favorable technical position, assuming the price manages to stay above the previous resistance zone. Sustained buying volume will be critical to confirm upward momentum. A successful rally could push the token toward multi-month highs, providing a strong recovery narrative for Fetch.ai in the mid-term.