- Fetch AI Price Prediction suggests a rise due to the craze of Artificial Intelligence.
- FET Price is trying to bounce back and sustain above the 50 and 200 day EMA.
- The FET crypto price formed a strong base near $0.1000.
Fetch AI Price Prediction suggests a rise in the long term due to the rapid increase in the adaptation of Artificial Intelligence. FET crypto came into limelight in the beginning of 2023 when ChatGPT was trending in the technology world.
FET price got positively impacted by the craze of ChatGPT and prices rallied 622% approx in the period of two months. The volume in the crypto also increases indicates some genuine investors or whales had invested in it.
However, from the past few months Fetch AI price is consolidating in a wide range between $0.2000 to $0.5000. Presently, the price is near to the lower range and buyers are trying to give bounce to regain the confidence of investors.
Fetch AI price is trading at $0.2612 with an intraday rise of 2.43%. The 24 hour volume to market cap ratio is 0.2491. The pair of FET/BTC is trading at 0.00000958 with an intraday rise of 0.84%.
The chart pattern of Fetch AI with the Bitcoin pair displayed a death death crossover. It shows that sellers seem to be highly active on FET/BTC pairs.
While consolidating in a range, FET crypto tried multiple times to break the $0.5000 level. But due to the strong presence of sellers prices are unable to break the range and reverse in downward direction.
Will Fetch ai Price perform due to AI adaptation
Fetch AI Price corrected 50% approx from the recent swing high at $0.4500 and correction is still continued. However, the prices are near to the demand zone and buyers are trying their best to rebound.
Till prices sustain above the $0.2000 support the possibility of the bounce back remains high. However, FET prices will pick up momentum when buyers succeed to break the $0.5000 hurdle.
On the other hand, if the sell off continues and prices drop below the $0.2000 then more downside will open. The technical analysis suggests, Fetch AI Price is in short term correction mode and it is expected to bounce back soon.
Will AI growth fuel the rally in FET Price
FET Price formed a bullish hammer candle on a weekly basis shows sellers seems to be losing the downside momentum. In the future, rapid growth in the field of Artificial Intelligence is visible which might fuel the rally in AI coins and tokens. Therefore, the long term outlook for Fetch AI looks bright.
Technical indicators like the MACD curve are rising upward and generating a positive crossover. It indicates that responsive buyers are getting active and downfall may halt soon. The RSI at 48 near to the neutral territory denotes equal level of tug of war between buyers and sellers.
Conclusion
Fetch AI Price Prediction suggests a rise and the long term outlook is bright due to rapid growth in the field of Artificial Intelligence. FET Price is in correction mode and consolidating near the demand zone.
The technical analysis says till FET price sustains above $0.2000 support the possibility of bounce back remains high. The probability of reaching $1.00 will increase when buyers succeed to break the $0.5000 hurdle.
Technical levels
Resistance levels: $0.5000 and $0.6000.
Support levels: $0.2000 and $0.1500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.