As the market leader, Bitcoin (BTC) price approaches the $65k level, the Artificial Intelligence (AI) category has gained significant traction over the past few hours. Moreover, some tokens have recorded a double-digit gain within a short period.
Will the FET price break out of its important resistance level of $1.650 and record a new 4-month high this Uptober? Moreover, with the rising volatility, will this AI crypto slingshot toward its $3 mark this year?
FET Coin Price Forms An Expanding Channel Pattern!
With a jump of ~5% in the past 24 hours, the Artificial Superintelligence Alliance price has recovered its weekly losses. Moreover, it has jumped 11.56% during the past month and has rewarded its long-term holders with a return of ~123%.
Furthermore, it has formed an expanding channel pattern in the 1D time frame and has continued trading within it since August. This highlights an increase in the adoption among the investors for this project.
FET Technical Sentiments
The EMA 50/200-day has recorded a neutral action by recording a sideways trend for a brief period. However, it constantly supports the Artificial Superintelligence Alliance in the 1D time frame. This suggests a strong bullish pressure in the market.
On the other hand, the Relative Strength Index (RSI) has successfully retested its mid-point in the FET price chart. With its average trendline displaying a positive crossover, this AI token hints at a price rally.
What Is The Prediction Of The Artificial Superintelligence Alliance?
If the market favors the bulls, the FET price could retest its resistance level of $1.650. Moreover, if the bulls hold its value above that level, this could result in it heading toward its upper resistance level of $2.230 during the upcoming weeks.
On the flip side, a trend reversal could pull this altcoin toward its support trendline of the channel pattern. Further, if the market turns extremely bearish, the price could retest its low of $1.050.
Also, read Fetch.Ai (FET) Price Prediction 2024 – 2030
