- AI tokens on the bull run.
- FET prices swell by nearly 30% intraday.
- Its BTC valuation went up by 27% in 24 hours.
Fetch.AI is an artificial intelligence (AI) based lab that democratizes access to AI technology with a permissionless network. The potential landmark investment is being observed when US software giants are able to see the far-reaching implications of the technology. The foresight has certainly triggered a realignment in the AI world.
FET’s prices and market cap have soared high, bolstered by the increased interest in AI-based automation acting as the catalyst. Software conglomerates like Microsoft, ChatGPT, and Google are setting a strong footing in the AI ecosystem by joining forces or by acquiring power, either way, uplifting the whole notion of AI and crypto going hand in hand.
The Picturesque
The FET prices have witnessed a bullish breakout due to the recent investments made in AI. The prices have gained about 30% intraday and more than 95% in the past 7 days. The volume shows high volatility with buyers wishing to accumulate the “shows-topper.” The EMA ribbon lies beneath the current price rocket, launched by the bulls. The upslope OBV suggests the current market situation to be absolutely favorable for the platform. The current price of $0.56 is anticipated to reach near $0.75, as per the previous swing.
The CMF shoots up from the zero-mark to show a sudden bull dominance in the market. The MACD diverges sharply to record tall buyer bars in the region above the zero-histogram mark. The RSI reaches for the higher ranges in order to display buyers’ elevated spirits. The indicators suggest the push to be strong enough to send it to new highs.
The Peephole
The smaller time frame analysis shows prices propelling to reach for the ATH. The CMF finds a spot in the higher ranges of the positive zone to show prevailing bullish momentum. The MACD lines widen and surge in the upper ranges to establish buyers’ regime. The RSI climbs to the level in the overbought zone to mirror buyers’ intention to accumulate FET.
Conclusion
The FET token is skyrocketing taking support of the recent developments in the field of AI. All concepts relating to it are gaining pace as big players are playing to win. The FET holders can benefit from the rally as it may reach near $0.75.
Technical levels
Support levels: $0.25 and $0.05
Resistance levels: $0.75 and $0.85
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/07/fet-soars-high-for-the-ai-triumph-prices-rallied-by-30/