FET Price Prediction: Is a Big Rally Imminent in September?FET Price Prediction: Is a Big Rally Imminent in September?
Artificial Superintelligence Alliance eyes a potential breakout above the psychological $1.5 level.
The ratio of daily on-chain transaction volume in profit to loss was 2.96 indicating more transaction in profit.
FET crypto could be back on track in September after the analysts evaluated a possible trend shift towards the positive territory. The bulls have initiated a recovery that could trigger a breakout thus shifting Artificial Superintelligence Alliance in buyer's zone.
Amid the bearish market sentiments, FET price appears poised for a massive upside rally due to forming its bullish price action pattern backed by some recent developments in the on-chain metrics.
Let's delve deeper and try to analyze whether FET could be a better asset to invest in September for massive gains.
FET Weighted Sentiment Curve Heads Towards A Positive Territory
Moreover, the recent FET price development may be correlated by a parallel development in the weighted sentiment metrics which is an important on-chain metrics. As per the data obtained by an on-chain analytics website app.santiment.net, the weighted sentiment curve has improved from the bearish territory towards the zero line.
The positive sentiment curve has improved in the recent sessions due to which the weighted sentiment curve has surged to zero line. However, the weighted sentiment curve was still maintained below the zero line suggesting a bearish dominance.
The weighted sentiment curve reflects the overall biasness of the traders and investors whether it is bullish or bearish at the moment.
Moreover, the daily ratio of transaction volume in profit to loss shows that more transactions have been profitable than those resulting in loss over the last 30 days. At the time of writing, it was at 1.3, suggesting that for every FET transaction that ended up in loss, 1.3 transactions were in profit.
Furthermore, the transaction volume has surged by 62.85% to $154.06 Million indicating a heightened demand. With a live market capitalization of $2.8 Billion, Artificial superintelligence Alliance ranks 27th in the cryptoverse.
FET Price Analysis: Is FET Ready For A Bullish Reversal?
The daily chart highlights the formation of a declining parallel channel pattern with FET price currently hovering near the higher boundary. The recent attempts by the bulls has turned the short term trend outlook bullish.
As of now, FET price was hovering in a critical zone from where the bulls and bears have equal opportunities to take lead. The bull domination may be validated if the price surpasses the psychological $1.5 level.
On the contrary, if the price looms below the $1 psychological support, bears may regain control. At the time of writing, FET was hovering close to $1.19 indicating an impressive gain of 8.36% intraday.
Moreover, while applying the Fibonacci retracement tool from the recent swing high at $1.55 to $0.70 which is the recent swing low. FET has surpassed the o.5 level i.e. golden zone of Fibonacci, indicating a possible trend shift on the bullish side.
On the higher side, a breakout of $1.5 would mark the end of a correction phase and both the long term as well as short term trend outlook may shift to the positive side.
The short term traders and investors need to keep a closer outlook while the price is maintained between these two levels $1.5 and $1.
FETUSDC_8D8348.USD trade ideas
FET price has taken support from the $1.00 markFET Price Technical Analysis
The FET price has endured a strong downtrend for a long time, followed by consistent sell-off from profit bookers in the last four months.
The following downtrend behavior of the FET token price led to the creation of a falling channel pattern and the price deteriorated by over 75% from the swing high of $3.4778.
On further glance into the most recent price action, the FET price has built a pullback situation from the last deflection from the 200-day EMA band.
The break out above the wedge pattern exhibited a strong bullish behavior. It might lead the FET price to further higher levels in the future once it gets past the 200-day EMA.
The FET price has taken support from the $1.00 mark and has pierced 20-day and 50-day EMA bands.
The MACD and the signal line were surging towards the northward trajectory that is above the zero line.
The RSI has simultaneously pierced the median line and 14-SMA line, which flashed at 53.70 at press time. This exhibited a strong behavior of the FET price.
Artificial Superintelligence AllianceArtificial Superintelligence Alliance (ASI)
Artificial Superintelligence Alliance is formed from the collaboration of three individual AI tokens Fetch.ai, SingularityNet and Ocean Protocol. It is a platform that combines AI, machine learning and blockchain technology to create a decentralized network. It has a live market capitalization of $2.70 Billion and ranks 27th in the cryptoverse.
As evident from the daily chart, the long term trend outlook is bearish with some demand in the short term. The bulls are attempting for a recovery in the short term as the price has taken a rebound from the lower levels. The bears on the higher side have established their presence near the key 200 days EMA.
Now, a sustained move above the 200 day EMA at $1.38 would mark the end of a correction phase. At the time of writing, Both the RSI line and 14 day SMA line were placed in the upper half i.e. above the mean line suggesting a positive outlook in the short term.
FET has seen a 62% increase in price this weekAs of the time of writing, the price of FET has increased by 9% intraday, reaching $1.32. Its market cap has risen to $3.327 billion, placing it 27th globally. The recent 32% surge in spot volume indicated a growing demand, amounting to $278.53million. The liquidity has grown in the asset, as the 24-hour liquidity ratio was at 8.33%.
FET has seen a 62% increase in price this week, resulting in a breakout from the falling wedge pattern. The price has pierced 20-day and 50-day EMA's while turning them into bullish favor.
However, 200-day EMA opposes 200-day EMA, which is now Dependent on future optimism. once it breaks through the 200-day EMA band, the price could experience a rally continuation.
Given that the current northward movement initially originated from a significant demand zone, chances are higher that a boastful rally could continue northward.
What Happened In FET Price & What It Can Do Next On Daily Chart?
KuCoin Has Completed the Token Merger of Ocean Protocol (OCEAN) and SingularityNET (AGIX) to Fetch.ai (FET), which have collaborated to establish the Artificial Superintelligence Alliance.
As of writing, per the Coinmarketcap website, the Fetch.ai name has been replaced with Artificial Superintelligence Alliance, and the ticker is FET. In the future, all tokens would be consolidated to create a common token for all assets as the (ASI).
However, till then, the trading and investing would commence through the FET ticker only until an official announcement is received.
So a look at FET price, as of writing, highlights 10% intraday growth with price traded at $1.060. The market cap has surged to $2.668 Billion, making it rank 31st globally. The spot volume inflow showcased demand with its recent 52% rise, which amounted to $221.90 Million.
The FET this week's gains were 28.44%, which led to a breakout of the falling wedge pattern. Depending on future optimism, the price could rally once it pierces 50-day and 200-day EMA bands, as the current swing has built from a key demand zone.
Artificial Superintelligence Alliance (FET) Faces Major Setback Artificial Superintelligence Alliance (FET) Faces Major Setback
Meta Description: FET price has been facing a strong downturn for the last three months wiping out nearly 62% of its value
Fetch.ai, Ocean Protocol, and SingularityNET have united to form Artificial Superintelligence through a token merger and continue to trade under FET token.
The daily chart highlights the formation of a declining parallel channel with FET price rolling down respecting the boundaries.
FET price has been facing a strong downturn for the last three months wiping out nearly 62% of its value. Despite the recent recovery in the broader markets FET failed to make a comeback.
Moreover, the last three months have been very challenging for the AI sector and especially FET. FET price recorded a robust 300% rise a month from mid February to Mid March.
However, the price could not follow through and a selloff was observed on the charts. The selloff continued till date with some small gains in the short term. Let's analyze whether FET may continue to slump more or head for a recovery.
Social Metrics Highlights an Increased User Engagement
Fetch.ai, Ocean Protocol, and SingularityNET have merged their tokens to form the Artificial Superintelligence Alliance, now trading under the FET token. This new alliance is poised to be a significant player in AI research and development.
Source: TradingView
The recent sessions have shown notable improvements in on-chain metrics such as social volume and social dominance, suggesting a potential price increase. Moreover, data from app.santiment.net indicates a rising trend in these metrics, which could positively impact the price in upcoming sessions.
The social dominance and social volume metrics represent the change in awareness and popularity of the crypto among users. Social media platforms like Twitter, Instagram, and Facebook are instrumental in spreading its reach and increasing its user base.
ET Price Technical Analysis
The trend outlook highlights a bearish trend prevailing in Artificial Superintelligence Alliance in the long term as well as short term. The FET crypto is looking for a firm footing near the $0.75 level which is the psychological level and a previous breakout zone.
The daily chart highlights the formation of a declining parallel channel pattern with the price currently nearing the lower boundary. As of now the $0.75 level is crucial and may decide the next movement.
A breakdown below it may indicate a bearish continuation. whereas, a bounce back above it may reestablish the confidence of the investors potentially triggering a a rise towards the upper boundary of the channel close to $1.5 level.
At the time of writing, FET price was hovering below the key exponential moving averages indicating weakness. The technical indicators imply a bearish outlook on a combined analysis.
Can FET Continue To Slump Or Recover?
FET has seen a 62% decline over the past three months indicating weakness over the charts. Recently, the AI sector, particularly FET, faced significant challenges. Furthermore, the improvements in on-chain metrics like social volume and dominance suggest potential price increases.
However, the trend outlook remains bearish, with FET Price seeking support near the $0.75 level. The daily chart shows a declining parallel channel, with $0.75 being crucial for future movement. A breakdown could continue the bearish trend, while a bounce back might trigger a rise towards $1.5. Currently, FET was below key exponential moving averages, indicating weakness.
Fetch.ai Crypto : A Rebound on the Horizon or a Persistent SlumpFetch.ai Crypto : A Rebound on the Horizon or a Persistent Slump?
The FET/USD daily chart reveals a consolidation near the demand zone.
The RSI and SMA line suggests a positive divergence indicating bullish reversal might be on the horizon.
Fetch.ai crypto has been a mixed bag in the last week. The crypto started the week on a positive note however suffered rejection from the upper levels erasing the gains. At the time of writing, the FET crypto was exchanging hands close to $1.40 indicating a notable 4.47% rise in Intraday.
The short term trend outlook has been neutral to bearish. However, the price still hovers above a strong demand zone of $1.1 level from where the price had taken a rebound. The daily chart indicates a possible consolidation in the short term as the price seemed to have stuck in a range bound with the support at $1.1 and resistance at $1.77.
Fetch.ai Crypto Volume And Volatility Analysis
Moreover, the long term trend outlook points to a declining trend since the mid May. The Fetch.ai price has dropped nearly 60.53% from its All time high value of $3.47% which was recorded in the last week of March.
The volume analysis shows that the volume inflow has dropped by 28.4% as compared to the previous and was at $110.57 Million. It has a live market capitalization of $1.187 Billion and ranks 64th in the cryptoverse.
Moreover, the volume to market cap ratio at 8.75% suggests mild volatility in the crypto. FET crypto has a total supply of 2.63 Billion tokens out of which 848.19 Million tokens are currently in circulation.
Fetch.ai Crypto Technical Analysis.
From a technical point of view, the FET crypto price was hovering below all the key exponential moving averages of 20, 50 and 200 days suggesting a bearish trend prevailing in the short term. Recently, the price attempted for a recovery however suffered consolidation from the 50 day EMA indicating a bearish continuation.
At the time of writing, the RSI line was placed close to 41.58 points and that of the 14 day SMA line placed close to 40.39 points and was headed towards the mean line indicating improvement in the sentiments. Moreover, a positive divergence between the RSI and SMA line was observed indicating a bullish continuation.
Conclusion.
Fetch.ai (FET) experienced a volatile week, starting strong but facing resistance that erased early gains. At the time of writing, FET crypto was trading close to $1.40 recording 4.47% rise in intraday. The short-term outlook seemed to be neutral to bearish, with the price hovering above the $1.1 demand zone.
The technical indicators suggest a bearish trend, as FET was hovering below the 20, 50, and 200-day EMAs. Despite a recent recovery attempt, the price suffered resistance at the 50-day EMA. The RSI and SMA lines hint at improving sentiment, suggesting potential for a bullish continuation.
Fetch.ai (FET) CryptoFetch.ai (FET) Crypto
The Fetch.ai crypto has been a volatile one for this whole week. The crypto started the week on a positive note and surged over 30% in the 1st half of this week. However, a strong selling pressure in the last couple of sessions have eroded most of the gains dragging the price close to negligible gains.
The FET crypto was down nearly 13% in the last 24 hours and resumed with the selling pressure on the second consecutive session. The price suffered from the 50 day EMA and made its way to the downwards.
Currently, the bulls are attempting to defend the weekly lows above which the price may attempt for a recovery. However, a break below the weekly lows of $1.37 level could drag the price towards the $1 level.
Can Fetch.ai Crypto Turn Bullish Amid Three AI Tokens Merger?Can Fetch.ai Crypto Turn Bullish Amid Three AI Tokens Merger?
The merger of Fetch.ai crypto with OCEAN and AGIX is set to happen from 1st July 2024.
The social sentiments of Fetch.ai crypto has experienced a notable surge in the recent sessions..
The daily chart reveals the formation of an interesting pattern, the breakout of which may mark the end of a correction phase.
Fetch.ai crypto seemed to be erasing over 12% gains in intraday after a sharp recovery of nearly 50% in the last one week. FET crypto took rebound from a $1.15 level and jumped higher reclaiming the bullish territory above the 200 day EMA.
Moreover, the recent surge in the price might be around the merger of FET with Ocean Protocol(OCEAN) and SingularityNET (AGIX) which is set to happen from 1st July. Furthermore, a major crypto exchange coinbase has opted to stay out of the automated merger process.
At the time of writing, Fetch.ai crypto was hovering close to $11.63, recording a 11.56% decline in intraday. It ranks 62nd in the broader market with a live market capitalization of $1.32 Billion.
Coinbase Opted To Stay Out Of The Automated Merger Process!
While most of the exchanges have agreed to participate in the automated merger process of FET, OCEAN and AGIX tokens. On the other side, Coinbase has opted to stay out instead of participating in the merger process. As of now, users having OCEAN and AGIX tokens need to withdraw their tokens to Coinbase wallets to swap the assets.
Moreover, on the positive side, Fetch.ai has planned to keep the token conversion window open for a long duration ensuring that token holders have ample time to manage their assets.
Just in: @coinbase will NOT support the migration from MIL:OCEAN to NYSE:FET / CSELK:ASI - thanks for nothing, I guess.(enjoy the transaction fees, twats) pic.twitter.com/UVEyD3pPHj— Mad Orkestra (@MadOrkestra) June 27, 2024
For those who have staked FET or are providing liquidity, there's no immediate action required. Their assets will be seamlessly transitioned to ASI during the second phase of the merger process.
The recent announcement has left an uncertainty among the users as some of the users may prefer to square off their holdings instead of swapping it with other tokens. It may leave a negative impact on the FET token's price. However, the other major exchanges like Binance have opted for an automated merger which may help the crypto retain their users.
Ftech.ai Illustrates The Formation Of An Interesting Channel Pattern!
The Fetch.ai price has climbed nearly 50% in the last one week however, a sharp selloff was noted which has erased nearly 12% of the gains in Intraday. From a price point of view, the daily chart reveals the formation of a declining channel pattern.
Recently, the price took a rebound from the lower boundary of the channel and may continue to gather strength till the higher boundary of the channel. It suggests a potential rise of nearly 20% towards the $1.95 level.
At the time of writing, The RSI line was placed close to the mean line at 46.02 points and that of the 14 day SMA line was at 37.92 points. Both the lines were headed upwards and a bullish crossover was observed indicating a trend continuation.
Where Could The FET Price Lead Now?
Fetch.ai crypto (FET) experienced a significant intraday loss, erasing over 12% of its gains after a recovery of nearly 50% a week. The price rebounded from $1.15, surpassing the 200-day EMA, indicating bullish momentum. Moreover, The price surge seems to be attributed to the upcoming merger with Ocean Protocol (OCEAN) and SingularityNET (AGIX), set for July 1.
Furthermore, a major crypto exchange Coinbase has decided to opt out of this merger causing uncertainty, potentially affecting FET's price negatively. In contrast, Binance supports an automated merger. Technically, FET shows a potential 20% increase towards $1.95, with RSI and SMA trends suggesting a bullish continuation.
Fetch.ai (FET) CryptoFetch.ai (FET) Crypto
Fetch.AI is pioneering a decentralized machine learning platform powered by blockchain, making AI accessible to all the users. Its network allows open access to secure data, utilizing autonomous AI for tasks across various sectors, including DeFi, transport, and energy etc.
FET Crypto experienced an impressive gain in intraday today and has surged over 8.62%, indicating a bullish continuation on the second day. Moreover the price rise is supported by a significant 132% rise in the volume inflow indicating an increased demand.
The increased demand may continue to push the price higher in the upcoming sessions. It ranks 61st in the broader market with a live market capitalization of $1.36 Billion. out of a total 2.63 Billion tokens, 848.37 Million tokens are currently in circulation.
Fetch.AI (FET)Fetch.AI (FET)
Fetch.AI is pioneering an open-access, decentralized network for machine learning powered by artificial intelligence. It offers a crypto economy where secure data can be accessed without permissions, enabling the use of autonomous AI agents to perform tasks across its extensive data network.
Moreover, the daily chart reveals a breakout of a trendline resistance followed by a retest. On the higher side, if the bulls are able to surpass the recent supply of $2.6 level it may indicate the completion of a retest and the crypto may head to conquer the annual high of $3.4 level.
However, any closing below the 50 day Exponential moving average and $2.25 level may invalidate the breakout and the correction may prevail again.
Can Fetch.ai (FET) Crypto Conquer $5 Amid The Markets Rebound?Can Fetch.ai (FET) Crypto Conquer $5 Amid The Markets Rebound?
The social dominance curve has experienced a rapid ascent, signaling the growing prominence of Fetch.ai in the cryptocurrency sphere.
On the daily chart, an intriguing pattern has emerged, and a breakout from this formation could potentially catalyze a substantial surge in price.
The broader market experienced a turnaround following the release of the U.S. Consumer Price Index data, which showed a decline in inflation rates, invigorating investor sentiment. Bitcoin ETFs recorded a significant influx, contributing to Bitcoin's impressive 7.50% leap, propelling it past the $65,000 mark.
Simultaneously, Fetch.ai's crypto also enjoyed a positive momentum, climbing nearly 12% the previous day. Despite this uptick, the digital currency has yet to overcome its corrective phase and continues to fluctuate beneath a key trendline resistance.
Surging Trading Volume Signals Robust Expansion for Fetch.ai Crypto
Additionally, volume analysis indicates a significant increase in trading activity for FET Crypto, suggesting a positive outlook. The intraday trading volume surged to $318.17 million, marking an approximate 30% increase from the prior day's volume.
Concurrently, market volatility has escalated, with a 17.34% rise noted within the past day. Furthermore, the current circulating supply of FET tokens stands at 848.193 million, in contrast to the total supply of 1.152 billion FET tokens.
Moreover, there's been a notable uptick in social metrics such as social dominance and volume, indicating FET's escalating prominence in the crypto market. Typically, heightened social engagement correlates with positive price movements for the cryptocurrency.
Fetch.ai Price Forecast: Can It Reach the $5 Milestone?
The technical analysis suggests that FET crypto is exhibiting a descending triangle formation on the daily chart, with its price oscillating between a downward-sloping trendline resistance above and a solid horizontal support around the $2 level.
Now, For a shift in trend and the initiation of a new bullish cycle, a decisive breakout above the upper trendline is essential. As long as the cryptocurrency remains within this pattern, it's likely to continue its corrective trend.
Furthermore, as the overall market shows signs of recovery, it could catalyze a breakout for Fetch.ai as well. Should the breakout be sustained, investors might set their sights on the $3.5 and $5 levels as the forthcoming resistance zones on the upside.
Conclusion.
Fetch.ai (FET) crypto noted a 12% jump in price yesterday, yet remained in a correction phase under trendline resistance. Furthermore, the trading volume rose by 30% to $318.17 million. Also, the social metrics improved, suggesting growing market influence.
Moreover, The daily chart reveals a descending triangle pattern formation which if breaks out could initiate a bullish trend. The market's recovery may prompt this breakout for Fetch.ai. If sustained, the focus could shift to resistance levels at $3.5 and $5.
The Bulls have demonstrated impressive gainsThe Bulls have demonstrated impressive progress in the FET cryptocurrency, with the crypto being mostly bullish since February 2024 and peaking at $3.50 by forming a higher high structure by the end of March 2024.
During the first and second weeks of April, prices experienced a correction as bears attempted to intervene but were unsuccessful by the second week, and failed to push the market more downwards in their favor. Meanwhile, Support was established at $1.80, and starting from the third week of April, prices rose slightly after stabilizing at this level.
At press time, the FET is currently trading at $2.45 with an intraday surge at 1.33%, and $213.40 million 24-hour volume on major tradeable platforms.
Therefore, the price action highlights that the price is optimized for a more spectacular rally in the coming session. Similarly, if the bulls push the market strongly the FET could surpass the supply of $3.50, and in the meantime, the in-between resistance would be $3.00.
However, if the FET fails to hold on to critical support of $1.80, then the bears will intervene strongly and push the market downwards to the lower depths.
Fetch.ai Price Analysis: Can FET Rise 30% If Surpasses $2.5 MarkFetch.ai price broke out of a short-term consolidation but may encounter selling pressure until it is maintained below the $2.58 level
The FET crypto project is experiencing a decline in network growth, which suggests that it is losing its appeal to new investors.
As profits increase and participation decreases, some strong investors may choose to sell.
Fetch.ai (FET) price has been impacted by recent market corrections, resulting in a decrease in profits for crypto investors.
the last couple of sessions have witnessed a significant jump in the price, after the breakout of consolidation. However, the investors fear rejection from the recent supply of the $2.58 level.
Can FET Crypto sustain the Breakout or Fade Away?
There is a question regarding the sustainability of the FET cryptocurrency's breakout. While some are optimistic about its future, others have concerns that it may eventually fade away.
In the recent sessions, the price of FET decreased significantly, causing concern among investors. However, the bulls made a comeback after the price dropped below the 50-day EMA and a short-term consolidation was observed.
Currently, the bulls are making an effort to recover as the FET price has broken out of the consolidation and 50-day EMA. However, investors are still apprehensive of another selling pressure since the volume inflow has not supported the breakout.
Although recovery is possible, it is likely that FET price needs to show sustenance above the consolidation zone in order to validate the breakout and turn bullish.
Despite a significant increase in Fetch.ai's price over the last few sessions, there has been no noticeable increase in volume, suggesting a fear of future selling pressure. Additionally, the daily chart indicates that the price remains below its previous swing high.
As the growth in profits is accompanied by a decline in participation, it is feasible that some prominent investors may opt to divest their holdings.
Fetch.ai Price DAA Divergence Show Increased Selling Pressure!
The above chart displays a correlation between the Fetch.ai price and FET price DAA divergence. As per the chart, It is highly probable that certain investors on the network may not exhibit resilience in the face of the current market situation, which is displaying a clear sell signal.
This signal is triggered only when the price and participation move in opposite directions or both act bearishly, causing a divergence with the daily active addresses (DAA). The situation with FET is such that the former conditions are being observed, indicating a high likelihood of triggering selling among investors.
Fetch.ai Price Prediction: Can Bulls Outperform?
The recent market sessions for Fetch.ai (FET) have shown some positive signs of hope for investors, with a significant increase in price. However, the overall data remains negative, leaving investors confused about the future direction of the market.
Given the mixed signals from the market, if the Fetch.ai price can sustain the breakout, it may result in the validation of the termination of a correction phase and a new bullish wave may be observed.
On the other hand, if fear increases and the breakout fades away, the price may eventually hit a new swing low and resume its correction phase. Thus, it's essential for investors to keep a close eye on the market trends and indicators to make informed decisions.
Conclusion.
The price of Fetch.ai (FET) has been impacted by recent market corrections, resulting in a decrease in profits for crypto investors. Although the price has shown some positive signs of hope, investors are still apprehensive of another selling pressure since the volume inflow has not supported the breakout.
Currently, The FET price needs to show sustenance above the consolidation zone in order to validate the breakout and turn bullish. The daily chart indicates that the price remains below its previous swing high. The Fetch.ai price and FET price DAA divergence shows increased selling pressure, indicating a high likelihood of triggering selling among investors.
Technical levels:
Support levels: $1.9 and $1.58
Resistance levels: $2.58 and $3.36