Fetch.ai (CRYPTO:FET) recently slipped below the $2 support level but is showing signs of a potential rebound.
With increased participation and low prices, the altcoin is signaling a buy opportunity, as indicated by the surge in active addresses on its network.
Additionally, Fetch.ai appears undervalued based on the rebounding Sharpe Ratio, suggesting room for growth.
If Fetch.ai successfully breaches the $2.26 resistance level, it could target a 25% rally towards $2.46.
However, failure to maintain support at $1.96 may invalidate the bullish outlook, potentially leading to a decline to $1.71.