Artificial Intelligence Project Fetch.ai Could See Long-Term Uptrend, Analyst Predicts
A popular crypto analyst, known as Altcoin Sherpa, has shared his belief that Fetch.ai (FET), a decentralized artificial intelligence platform, may experience a significant rally in the coming months. With over 200,000 followers on X, Altcoin Sherpa has suggested that FET's value could climb even higher than its current levels.
According to Altcoin Sherpa's chart analysis, FET's next major hurdle is at a resistance level of $0.76. After rebounding from $0.55, which marked the upper boundary of a previous trading range, FET is currently trading at $0.70, showing a 6.5% increase in the last 24 hours.
Looking at the broader market, Altcoin Sherpa predicts that Bitcoin (BTC) will soon reach the $58,000 mark. Although he expects some temporary pullbacks in that range, he fully believes that BTC's all-time high will eventually be surpassed. At the time of writing, BTC is trading at $51,885, with a slight increase over the last 24 hours.
Lastly, Altcoin Sherpa also expressed his positive outlook for Chainlink (LINK), a decentralized oracle network. While he sees long-term potential for LINK, he advises caution for short-term trades due to its current volatility. At present, LINK is trading at $19.51, showing a decline of nearly 3% over the last 24 hours.
Overall, Altcoin Sherpa's analysis provides valuable insights into the potential growth of these cryptocurrencies, particularly Fetch.ai, in the months ahead.
Analyst comment
Positive news: The popular crypto analyst believes that the decentralized artificial intelligence platform Fetch.ai (FET) may rally “much higher” in the coming months.
Market analysis: Based on the analyst’s chart, FET’s next key level of resistance is at $0.76, with potential for further upward movement. Bitcoin (BTC) is predicted to reach the $58,000 level, with expectations of a pullback but eventual all-time high. Chainlink (LINK) is expected to head higher in the long term, although short-term trades may not be as favorable.
