The analyst discusses Fetch.AI (FET) using Elliott Wave theory, suggesting two potential scenarios: a bullish "white count" and a bearish "orange count." The bullish scenario involves an ABC structure with a five-wave C wave, targeting $6.23, contingent on wave four having bottomed in April. A lower low shifts probabilities to the bearish "orange count". The cryptocurrency is testing micro support, and breaching 0.43 invalidates the bullish scenario and potentially the April low around 0.35. The analyst assesses a move started in November 2022 is a diagonal structure which includes three waves up in wave one, a wave two, a wave three, a wave four also as an ABC and a final wave five and also a potential rally but support levels are needing to be held. The nearest target is at 1.46, and focuses on avoiding to look long term, since it is an altcoin. The golden ratio is in test as of right now.