tl;dr
The price of FET, the native token of Artificial Superintelligence Alliance, has declined over the past five days but has entered a buy zone, as predicted by a crypto analyst. The decline is attributed to the launch of the new ASI token, which combines Fetch.ai, SingularityNet, and Ocean Protocol. T...
The price of Fetch.ai (FET) has declined over the past five days.
FET's recent decline has brought it into a buy zone, linked to the newly launched ASI token for Artificial Superintelligence Alliance.
The decline of FET aligns with a prediction from a crypto analyst, who expects a potential rally soon based on technical patterns and a retest of the $1.10 support level.
The price of FET, the native token of Artificial Superintelligence Alliance, has declined over the past five days but has entered a buy zone, as predicted by a crypto analyst.
The decline is attributed to the launch of the new ASI token, which combines Fetch.ai, SingularityNet, and Ocean Protocol.
The analyst expects FET to follow a bullish trend after its initial dip based on a technical pattern identified on the AI token’s daily chart.
FET has already retested the $1.10 support level and is currently trading at $1.1190, with users anticipating a potential rally above $1.50.
AGIX and OCEAN, the native tokens of SingularityNet and Ocean Protocol, have also experienced recent declines linked to the universal ASI token.
However, users expect this trend to reverse, focusing on the falling wedge on FET’s daily chart for a potential breakout.
The price of Artificial Superintelligence Alliance’ native token, FET, has been dropping over the past five days. This week’s decline brought FET into a buy zone, aligning with a prediction from a crypto analyst. The analyst, who posted on platform X, said a retest of the $1.10 level creates an ideal entry point for FET in a bullish market.
This analyst also connected FET’s recent behavior to the launch of the new ASI token, a universal token for Artificial Superintelligence. ASI is the product of a merger between three AI blockchain projects: Fetch.ai, SingularityNet, and Ocean Protocol. FET is one of the three tokens the analyst expects to eventually catch up to the bullish trend after their initial dips.
The analyst’s FET price prediction relies on a technical pattern identified on the AI token’s daily chart. They shared a screenshot showing how FET fell within a falling wedge pattern.
According to the analyst, the altcoin must break out of the falling wedge formation on the daily chart to trigger a bullish rally. TradingView data confirms that FET has already retested the $1.10 support level predicted by the analyst. The AI token dipped to $1.0992 earlier today before recovering slightly and currently trading at $1.1190.
Based on the analyst’s prediction, users anticipate a potential FET rally soon, possibly reaching targets above $1.50. In the meantime, AGIX, the native token of SingularityNet, also declined recently in a pattern coincident with OCEAN, Ocean Protocol’s native token.
Hence, all three cryptos linked to the universal ASI token have declined recently. However, users expect this trend to reverse based on the analyst’s prediction. The current focus is on the falling wedge on FET’s daily chart, where crypto users hope to see a breakout soon.
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