Missed Fetch.ai Rally-Here’s When FET Price May Offer A Good Entry!
AI-based tokens have been on the rise since the beginning of 2023. Fetch.ai’s price has surged massively along with other tokens like SingularityNET (AGIX), The Graph Token (GRT), and Ocean Protocol (OCEAN), etc, and many more. The bullish market sentiments were fueled by Microsoft’s announcement of a $10 Billion investment in ChatGPT and Google’s announcing an investment of $300 million in an AI firm, Anthropic.
The bullish market sentiments had pushed the price harder by nearly 125% since the start of February 2023. However, the price has been consolidating finely during the past trading day due to which the token may offer another opportunity to enter.
The FET price has been trading within a rising wedge and after facing multiple rejections from the upper resistance, the price has now reached the lower support of the wedge. Although the price has already triggered a rebound, the upswing could be validated once the price reclaims the levels above $0.5. Until then, the possibility of a breakdown towards $0.4 persists as the RSI is displaying a minor bearish divergence.
A popular analyst, Micheal van de Poppe, believes that one can easily trade on the cryptos like Fetch.ai, Fantom, etc. The analyst also believes that these tokens could offer a fine entry at $0.41 if they fail to hold the crucial levels at $0.47.
“Said that you shouldn’t chase assets like FTM and FET, but you can easily trade them
First area of interest is hit around $0.50 to $0.47, if that holds we’ll have a bounce of 15-25% likely
Lower to $0.41? Swing entries”