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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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Fetch AI Breakout Confirmed: Analysts Reveal Bullish Targets For FET Price

Fetch AI (FET) has been riding the bullish artificial intelligence (AI) narrative following Sam Altman being ousted from OpenAI. Its native FET token has seen an impressive move upward since then, maintaining its bullish headwinds at the same time. But even after the altcoin has grown so much, crypto analysts are convinced that the coin is only at its starting level, and will continue to rise.

Analyst Who Called FET Initial Rise Is Back Again

Crypto analyst Tony The Bull, Founder of CoinChartist, was one of the most vocal voices for buying FET when the price fell to $0.09 back in 2022. The coin has since risen more than 5x from this level but even this has not deterred the analyst, who believes that there is more to come.

In a recent analysis, Tony presented the reasoning behind why he is still bullish on the FET price. The analyst had previously expected a retracement. But from the current level, expect the price to increase once more.

The chart shows an initial bounce above the $2.5 mark before a retracement that takes it back down to around $0.55. Then from here, there is another bounce upward to over $4 once more. If this plays out as expected, then the FET price could be looking toward multiple bounces of over 500% from here.

Fetch AI On Bulls’ Radar

In the same vein as Tony The Bull, another crypto analyst has predicted that the price of FET is headed for more rallies. The analyst who goes by TradingShot posted the analysis on TradingView where they revealed their target for the price.

Similar to Tony’s first target, TradingShot expects a rally that will bring the price above $2. The analyst identified a Golden Cross on the 1-day (1D) chart, noting that this is the fourth bullish pattern that has shown up in the FET long-term channel.

Fetch AI FET price chart from Tradingview.com

According to the crypto analyst, whenever such a bullish pattern emerged, the price had already started moving up. But actually, it is just the beginning as the main rally often happens after this 1D Golden Cross on the price chart is noted.

“The 1D RSI’s similarities of the November 2020 – February 2021 Bullish Megaphone are a testament that we are on a similar pattern, which then peaked just below the 1.5 Fibonacci extension. As a result, we remain buyers on FET, targeting 1.8000,” TradingShot said.

FET is currently in a downtrend after a tremendous run. According to data from CoinMarketCap, the altcoin’s price is sitting at $0.5 after falling 11.62% in the last 24 hours.

Fetch AI FET price chart from Tradingview.com

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Crypto Analyst Who Called Bitcoin’s Parabolic Rally Picks Altcoin Set To Pop

Predicting the Bitcoin price movements and when altcoin prices will rally again is not a small feat but one analyst has managed to do so. Crypto analyst TonyTheBull has been calling for a bull market, saying that this cycle differs from previous ones in the fact that there will be a rally this year.

This proved to be true last week when the price of Bitcoin started surging and hit as high as $35,100. Now the analyst has called the next altcoin to outperform, and it already is.

Fetch (FET) Is Next Altcoin In Line

In the latest iteration of the CoinChartist (VIP) newsletter, crypto analyst TonyTheBull revealed that Fetch (FET) was his next pick after the Bitcoin breakout. He revealed that he had previously bought FET which ended up outperforming in January, and believes the same will be the case here as well.

FET which is one of the top AI-powered crypto tokens is already on the rise after the analyst called it at the $0.24 level. TonyTheBull also posits that a Raging Bull indicator flipping on would be able to confirm further upside. “Waiting for the Raging Bull to turn on would help confirm increased bullishness in the altcoin,” the newsletter read.

Fetch FET altcoin

The Raging Bull Indicator, explained the analyst, “was designed using the Relative Strength Index to help indicate when Bitcoin or other assets are in a bull market, and more importantly, and impulsive like trend.” Basically, this indicator helps to show the strength of a cryptocurrency.

Looking at FET’s performance since the call, it has already climbed over 30% and is now trading above $0.3, hitting a local peak of $0.32 on Wednesday.

Fetch AI FET price chart from Tradingview.com (Bitcoin altcoin crypto analyst)

Bitcoin Not The Only One Looking Good

Despite Bitcoin still looking incredibly bullish on the charts, the analyst points out some altcoins that have had their Raging Bull Indicators turned on this year as well. The first on the list is Solana whose indicator turned on for the first time since 2022. Following this, the digital asset went on a massive run but it might not be done.

TonyTheBull revealed that the last time this indicator was turned on, Solana blew up by 500%, and then continued on to do a 17,000% rally. So if it sticks to historical performance, the Solana rally might only be in its early stages.

Solana SOL altcoin Bitcoin

The next altcoin to appear on the list is Chainlink’s LINK. LINK moved from around $7 to over $11 in a matter of days. But just like Solana, this coin may only be in its early stages. LINK’s Raging Bull Indicator last turned on in 2019 and the coin saw a “700% in the near term, and more than 9,000% in total.” The analyst further added, “This might not be a setup to sleep on.”

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FET Blasts 14% Higher: See The “Golden” Signal Behind The Surge

As the broader cryptocurrency market breaks out on the back of Bitcoin’s big rally, FET is the next altcoin to double-digit gains. The AI cryptocurrency at one point hit 14% higher intraday.

The move could be the start of something special, according to a “golden” signal in Fetch.ai.

FET Soars 14% As Golden Cross Triggers

FET is up 14% today as cryptocurrencies across the board see significant gains led by Bitcoin (BTC) this week. Even before the big move, the AI coin had opened this weekly trading session forming a golden cross of the 50-week and 200-week moving averages.

A golden cross occurs when a short term moving average crosses above a long-term moving average from below. This is a buy signal in trend-following technical systems and suggests that a new trend is potentially blossoming. A death cross is the opposite sell signal.

While the signal in and of itself is bullish based on the performance of trend-following systems, FET could be showing itself as a crypto market leader by being among the first coins to form such a golden cross. Ethereum (ETH) and Bitcoin are still death crossed, for example.

Even recent market stars Chainlink (LINK) and Solana (SOL) haven’t formed a golden cross on the weekly timeframe.

FET GOLDEN CROSS

Can Fetch Recapture AI Hype?

There’s no denying fetch.ai’s latest double-digit price surge has brought fresh excitement and validation to the project. The startup’s vision of an AI-powered decentralized machine economy clearly resonates with many crypto investors. Furthermore, hype around AI leftover from Nvidia’s epic rally could find its way further into Fetch.ai.

FETUSD rallied by more than 2380% starting from October 2020 through April 2021. In late 2022, Fetch.ai did another 900% following the release of ChatGPT and other big AI projects. What might this next rally result in for return on investment, if it continues higher?

Former all-time highs reside around $1.20, which could be the next logical target if price exceeds $0.60, which was the 2023 peak so far. Beyond that, FET would enter price discover and there is no telling how high it could go. But with only two months left in 2023, the $0.60 peak might stand as the record, with FET not able to break above it until 2024.