A widely followed crypto analyst says that one marquee artificial intelligence (AI) project is primed to skyrocket soon while updating his outlook on two smart contract platforms.
In a new strategy session, crypto trader Altcoin Sherpa tells his 223,600 followers on the social media platform X that machine learning platform Fetch.AI (FET), which is a part of the Artificial Superintelligence Alliance, appears ready to spark a rally.
“FET breaks out soon, in my opinion.”
The trader’s chart indicates that FET would reach a price tag of around $1.50. The prediction appears to have come to fruition as FET is trading for $1.53 at time of writing, an increase of over 15% during the last 24 hours.
Moving on to layer-1 smart contract platform Sui Network (SUI), Sherpa says the altcoin’s chart pattern is consolidating, which is what traders would want to ideally see before purchasing an asset.
“Even in extremely bullish environments, you should still try to wait for a dip or a consolidation day before buying. Check the price action on something like SUI; you want to see something like this where it pauses before it has another leg up.”
SUI is trading for $1.33 at time of writing, a 13.35% increase on the day.
The trader then mentions layer-2 scaling solution Fantom (FTM), noting that a “clean market structure break” is in the near future. According to Sherpa, traders have two options in this kind of scenario.
“Clear market structure breaks for some of these like FTM. There’s two ways you can play these things: you can either just get in early but risk getting shaken out/taking too much drawdown OR just get in when trend is confirmed but miss the first part of the move.”
FTM is trading for $0.64 at time of writing, a 13.4% gain on the day.
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Source: https://dailyhodl.com/2024/09/19/crypto-trader-says-blue-chip-ai-altcoin-primed-to-breakout-soon-updates-outlook-on-sui-and-fantom/