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Fetch.AI (FET) Price Gains Another 15% Following This Big News

Fetch.AI (FET) has demonstrated remarkable performance in the crypto market today, securing its position among the top-three performers. The asset witnessed an impressive 17% gain within the last 24 hours, marking a significant milestone by crossing the $2 threshold for the first time ever. This surge, propelling Fetch.AI to the 64th place among the top cryptocurrencies by market cap, is a testament to the growing investor confidence and market optimism surrounding its technological advancements and future potential.

Why Is Fetch.AI Price Up Today?

This surge in FET’s price can be attributed to a pivotal announcement by the Fetch.AI Foundation, which has evidently ignited investor interest. On March 5, 2024, the foundation unveiled a substantial infrastructure investment with the introduction of “Fetch Compute,” following a $100 million investment aimed at enhancing the development capabilities within the AI economy.

Fetch Compute’s initiative to deploy state-of-the-art Nvidia GPUs, including the H200, H100, and A100 models, aims to significantly accelerate the pace of innovation within the Fetch.AI ecosystem. This strategic investment, funded through the Fetch Ecosystem Fund, is designed to empower developers and users with the computational power necessary for exploring and developing sophisticated models and solutions, addressing the pressing GPU shortage and setting a new standard for the global developer community.

A novel incentive mechanism was also announced, where starting March 7, 2024, users staking Fetch.AI’s native coin, FET, will be rewarded with Fetch Compute Credits. These credits can be used to access the computing power on the Fetch Compute network, directly benefiting FET token holders and fostering a robust development ecosystem.

Humayun Sheikh, CEO of Fetch.ai, emphasized the transformative nature of Fetch Compute, stating, “Fetch Compute is not just an infrastructure investment; it’s an investment in the future of AI and the ecosystem of innovative developers who are pushing the boundaries of what’s possible with our platform.”

Sheikh further elaborated on the significance of this initiative, “By marrying substantial compute resources with our unique compute credit system, we’re ensuring that our community has the support and tools necessary to bring their visionary AI projects to life.”

This strategic expansion not only enhances the utility of the FET token but also reinforces Fetch.AI’s infrastructure capabilities. The platform’s DeltaV, leveraging Language Models (LLMs) and AI Agents, aims to revolutionize the way users connect with services, thereby redefining the search experience. With the rollout of Fetch Compute, Fetch.AI solidifies its vision of a more intelligent, efficient, and interconnected AI world.

FET Price Enters Price Discovery

As the FET price has ascended beyond the $2 mark, it has successfully concluded the bull flag pattern, we discussed in earlier price analysis, achieving a 290% increase. Now, the price of FET is entering a phase of price discovery. The Fibonacci extension levels may provide insights into potential future directions for the price. Potential price targets are at $3.04 (2.618 Fib), $4.18 (3.618 Fib) and $4.88 (4.236 Fib).

Fetch.AI FET price

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Fetch.AI (FET) Surges 21%: Why This Rally Is Just Getting Started

Today, Fetch.AI (FET) is once again emerging as a stand-out performer. The price of FET has surged by an impressive 21% in the past 24 hours, rising to $1.63. Currently, this substantial uptick is positioning Fetch.AI as the top performer among the top 100 cryptocurrencies by market capitalization.

Fetch.AI is benefiting from the AI hype in the tech sphere. As AI continues to make headlines, projects that are seen as contributing to this future, like Fetch.AI, naturally attract attention and investment, riding the wave of AI hype to gain visibility and financial support in the crypto sphere.

The project aims to leverage AI to enable smarter, more efficient blockchain networks and applications, appealing to both investors and developers interested in cutting-edge technology. Furthermore, the broader market trends show a growing appetite for investments in technologies that promise to shape the future.

Fetch.AI Price Analysis: FET/USD

When examining the weekly FET/USD chart, it is evident that the momentum for the AI coin is strong. Earlier this week, FET broke its previous all-time high of $1.19. Notably, this puts Fetch.AI in an elite group of very few cryptocurrencies that have already surpassed their previous all-time high.

Fetch AI FET price

The chart shows a well-formed ‘Bull Flag’ pattern, a bullish continuation pattern, which has developed over the past weeks. This pattern is characterized by an initial strong upward movement in price, followed by a downward sloping consolidation phase, and then typically results in a breakout to the upside.

The flag pole formed from mid-October till mid-December 2023. During the consolidation phase, the FET price fell towards the 20-week EMA (red line), but was always able to hold it on a weekly basis. The breakout from the flag occurred on February 12.

Based on the bull flag poll, the projected target is a 290% increase from the flag’s bottom, which would place FET at around $2.00. Notably, this closely aligns with the 1.618 Fibonacci extension level at approximately $1.90.
Another bullish argument are the volume bars, denoting trading volume. This has shown a substantial increase coinciding with the price surge, suggesting strong buyer interest.

Moreover, the Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements, is currently at 72.5. While this puts the FET price slightly in the overbought territory (typically considered to be above 70), it is typical for the crypto market to overheat during a raging bull market.

This suggests that there might still be room for upward movement before the market considers FET overbought.

FET/BTC On The Weekly Chart

In the competitive arena of cryptocurrency pairings, Fetch.AI’s token has shown a remarkable performance against Bitcoin (BTC) on the weekly chart. The FET/BTC pair exhibits a notable increase of 47% in the current week.

FET/BTC

Notably, the price action has reached a pivotal point, prompting the question: Is a phase of consolidation on the horizon or is Fetch.AI on the cusp of a massive breakout? FET/BTC is currently at 0.00002705 and thus slightly above the major resistance at 0.00002697. However, a weekly close above this threshold needs to confirm the trend.

A weekly close above this threshold could open the door for a 400% rally against BTC. In a bearish scenario, FET could be consolidating in the range between 0.00002650 and 0.00002014 before making the next major move.

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Fetch.AI (FET) Prints Strong Bullish Signal, Targets 500% Spike

In a new technical analysis, renowned crypto analyst Gert van Lagen forecasts a 500% surge in the value of Fetch.AI (FET), with a price target of $5.5. This bold prediction comes as the AI-centric cryptocurrency coin, FET, records a 12% increase over the past 24 hours and an impressive 45% gain over the last week.

Currently trading with a momentum that correlates with the buzz around AI technology giant Nvidia, Fetch.AI is riding the wave of heightened interest as Nvidia approaches its Q4 2023 earnings release on February 21.

Nvidia’s stock has experienced a remarkable 45% surge since their previous earnings report, expanding its market cap by an unprecedented $600 billion. As the tech community anticipates Nvidia’s next financial update, speculation abounds regarding the potential influence of the company’s performance on the broader AI and cryptocurrency markets.

FET, along with other AI-tied tokens such as The Graph (GRT), Injective (INJ), Render Network (RNDR), and SingularityNET (AGIX), stands at a critical juncture where Nvidia’s financial results could significantly sway investor sentiment within the AI and crypto sectors. A positive report from Nvidia could catalyze a wave of enthusiasm, potentially bolstering investments in AI-dedicated cryptocurrencies.

Fetch.AI (FET) Eyes A 500% Rally

Van Lagen’s chart showcases a massive inverse ‘Head and Shoulders’ (H&S) pattern, consisting of three troughs: the left shoulder formed in early 2022, the head reached its nadir at the end of 2022, and the right shoulder developed in August 2023.

The pattern is characterized by a ‘neckline,’ which is a resistance level that the price must surpass to confirm the reversal. For Fetch.AI, the neckline is situated around the $0.5 mark, a threshold that was successfully retested as support in January 2024. This retest is seen as a bullish confirmation, reinforcing the integrity of the reversal pattern.

FET price analysis

A noteworthy element in the analysis is the decisive breakout from the green Fibonacci resistance zone last week. The Fibonacci retracement tool is commonly used to ascertain potential support and resistance zones, and a breach beyond these confines typically suggests a strong market conviction.

Thus, Fetch.AI has not only surmounted the neckline but has also made strides past the resistance zone, paving the way for the asset to strive towards new all-time highs. Van Lagen has calculated a technical target for the iH&S pattern at $5.5, extrapolated from the depth of the pattern’s head to the neckline, and projected upwards from the breakout point.

The analyst has also stipulated a condition for the invalidation of this bullish scenario: should Fetch.AI print a ‘lower low’ (LL), it would disrupt the structure of the iH&S pattern and potentially signal a bearish shift in the market’s sentiment. He summarizes:

FET [1W] – Head and Shoulders bottom playing out neatly:
+ Dec-23 breakout of the right shoulder & the green Fib resistance zone;
+ Jan-24 multi-week successful retest of the neckline;
+ Feb-24 clearance for new ATHs
Technical target iH&S: $5.5 Invalidation: print LL

At press time, FET traded at $0.92.

FET price

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Crypto Analyst Says This AI Altcoin Will Hit A Fresh ATH After 300% Rally

The anonymous crypto analyst Rekt Capital’s observations point to a promising future for the artificial intelligence (AI) cryptocurrency project, with a focus on Fetch.ai (FET).

Along with with a sizable 377,500 followers on the social media network X, the analyst offers a bullish prediction, stating that Fetch.ai is about to reach a new all-time high (ATH).

Rekt Capital’s investigation shows that the machine learning platform is presently experiencing a notable upswing following a successful retesting of a critical price level.

Technical Analysis Illuminates Fetch.ai Momentum

The spotlight placed on Fetch.ai’s retest points to a technical analysis viewpoint in which the price behavior of the project at this crucial level acts as a key predictor of potential future profits.

FET has increased over 300% since the cryptocurrency watchlist, claims Rekt. In terms of fluctuation in price, the AI cryptocurrency went up from $0.53 on December 9 to $0.67 on December 16.

Additionally, the technical analysis presents a positive picture for the cryptocurrency Fetch.ai, which has seen 60% of “green” trading days. Additionally, Fetch.ai is showing bullish indications from almost 30 technical indicators.

The rise in cryptocurrencies with an AI focus indicates a rising awareness of the possibilities at the nexus of blockchain technology and artificial intelligence.

An illustrative case in point is the significant increase in the value of Fetch.ai (FET) that followed its partnership with SingularityNET (AGIX).

The collaboration between Fetch.ai and SingularityNET most likely represents a strategic relationship with the goal of maximizing the technological synergies between the two enterprises.

SingularityNET is a platform that facilitates the production and trading of AI services. Fetch.ai could gain from SingularityNET’s experience and skills.

Crypto And AI Synergy: Catalyst For Innovation

This partnership is proof of the expanding fusion of blockchain and artificial intelligence (AI), which many investors think has the potential to usher in a new wave of innovation in the cryptocurrency space.

At the time of writing, FET was trading $0.76, up 7.5% in the last 24 hours, and sustaining a weekly gain of 10% in the last week, data from Coingecko shows.

There is a chance that FET would reach new all-time highs, which would be a challenge. According to Rekt, the crucial next step in realizing this potential is to successfully break through the red resistance and turn it into a level of support, which would represent a turning point in the price trend of FET.

All of this information was considered by industry experts when developing their Fetch.ai price forecasts. They anticipate that Fetch.ai’s value will reach $0.77 by the end of 2023, making it an intriguing DeFi coin to monitor.

Featured image from Shutterstock

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Is Fetch.ai (FET) On The Cusp Of Another Mega Bull Run To 2021 Highs?

A crypto trader took to X on November 15, predicting that FET, the native currency of Fetch.ai, an AI-centric platform, could be aligning itself for a “green path,” resuming the uptrend of the past few weeks. 

The analyst, @rektcapital, believes the recent price action on the weekly chart points to strength. Moreover, the possibility of FET bulls flowing back and driving prices above the immediate resistance level registered in early November remains elevated at spot rates.

Fetch.ai set for the green path | Source: Rektcapital on X

FET Remains Bullish, Up 770% From 2022 Lows

Looking at the candlestick arrangement in the weekly chart, FET buyers have had the upper hand. To quantify, the coin is up 140% from July 2023 lows and may be preparing for even more upsides if prices break above $0.46 recorded in the first week of November. As it is, FET is up by over 770% from December 2022 lows when the coin plunged to as low as $0.0570. 

From technical analysis, FET recovered from around $0.17, representing the 78.6% Fibonacci retracement level of the trading range established in the first half of 2023. FET prices may rise, building on the bullish engulfing bars of late October and early November 2023, breaking above $0.46. This expansion, in turn, may create the base for the next leg up to $0.60, marking 2023 highs. 

FET price trending upward on the weekly chart | Source: FETUSDT on Binance, TradingView

Despite the current rally, whether FET prices will find the momentum to retest 2021 highs of $1.20 is still unclear. Even so, as FET expands, there is a notable change in participation levels, looking at trading volume, between 2023 and 2021.

Prices might be down 65% from the September 2021 peak, but associated trading volume is higher, suggesting more support. If trading volume is a leading indicator, it is highly likely that even if FET moves in a green path as @rektcapital predicts, the odds of the coin retesting 2023 and 2021 highs will be high and the uptrend possibly rapid.

Fetch.ai Building, Dominates Social Media Activity

In October, Fetch.ai launched DeltaV, an open platform allowing users to interact with Fetch.ai agents and services naturally and intuitively. With this solution, developers hope users will further explore the blockchain, utilizing its capabilities.

At the same time, Fetch.ai emerged as the leading crypto AI project by social media activity. With over 1,700 posts and over 409,000 interactions as of November 15, the platform is more popular than The Graph (GRT) and the Ocean Protocol (OCEAN).