Il Capo of Crypto, one of the well-known analysts of the cryptocurrency world, argued in his statement that although the declines in an altcoin continue, it is extremely bullish.
Speaking about the Artificial Superintelligence Alliance (FET), the analyst evaluated the high time frame chart of the altcoin. At the time of writing, FET, which is trading at $ 0.70, has lost 46% of its value in the last month.
il Capo said the price could fall a bit more, but from a macro perspective, he claimed that this is a long-term buy zone (between $0.50 and $0.85). Interestingly, he said that his target for FET in the next few weeks is $5.
FET, an artificial intelligence altcoin formed by the merger of Ocean Protocol, SingularityNet and FetchAI, experienced its golden age when it was three separate altcoins, especially with ChatGPT, during the golden age of artificial intelligence altcoins. FET, which climbed to $ 3.47 for a while, is trading at a region 79% lower than its all-time high price level at the time of writing.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/il-capo-says-hes-still-bullish-on-this-altcoin-which-has-fallen-big-in-the-last-month-expects-5/