Fetch AI Price Soars 12%, Poised for 128% Bullish Surge, Is ATH Soon?

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As a seasoned analyst with over two decades of experience in the ever-evolving world of technology and finance, I find myself captivated by the current surge in Fetch AI (FET) price. Having closely followed the development of artificial intelligence, I am particularly enthused by the momentum building up around FET, a token that represents the Artificial Superintelligence Alliance.

The value of Fetch AI (FET), a widely recognized altcoin with an AI focus, is witnessing a significant surge. The price momentum of FET is steadily growing, currently sitting above a vital support line. There’s a clear bullish trend emerging in the cryptocurrency market, especially among tokens linked to artificial superintelligence, which reflects similar upward trends.

Fetch AI Price Surges Amid CEX Influx

For the past three days straight, the price of Fetch AI has reached new heights, making it the highest it’s been since March 28th. This upward trend is linked to a larger increase in the cryptocurrency market as a whole, which seems to be responding positively to the Federal Reserve’s recent decision to lower interest rates.

The symbol of the Artificial Superintelligence Union saw a rise as well, fueled by numerous breakthroughs in artificial intelligence tech. Particularly, Alibaba from China unveiled a variety of AI tools, making available over a hundred open-source AI models.

Reportedly, OpenAI is actively raising funds, aiming for a staggering valuation of $150 billion. This underscores its prominent position within the AI industry. Furthermore, an upcoming collaboration with T-Mobile could substantially boost OpenAI’s future earnings, potentially bringing in over $39 billion.

ASI Alliance: Your Vote Matters

At 6 PM (Coordinated Universal Time), the voting platform goes LIVE today, concerning a significant governance proposition about CUDOS integrating and unifying their native token within the Alliance. This move is expected to bolster the ASI system, fostering innovation, and promoting…

— Artificial Superintelligence Alliance (@ASI_Alliance) September 19, 2024

The rise in the token’s value coincides with the alliance members preparing for a significant vote. These members are debating whether to add Cudos, recognized for its innovative decentralized cloud services, to the current group consisting of Fetch, Ocean Protocol, and SingularityNET.

FET Price Poised for 128% Bullish Surge

The cost of Fetch AI’s token (FET) has shown a positive increase recently, suggesting a bullish market trend over the last 24 hours. During U.S. trading hours, the FET price jumped by around 12.46%, reaching a temporary high of $1.57 before settling at $1.54. This surge indicates strong investor confidence in the token’s market performance. The highest price ever recorded for FET was $3.47 on March 28, 2024.

For Fetch AI (FET), the technical indicators on a daily basis suggest a substantial increase in its market worth. The Relative Strength Index (RSI), in tandem with the price, has skyrocketed to 67, nearing the overbought limit of 70.

Fetch AI Price Soars 12%, Poised for 128% Bullish Surge, Is ATH Soon?

Over the past few trading periods, the cost of Fetch AI has exhibited a strong upward movement, according to data from the Santiment analytics tool. This upward trend is evident on the graph, where a continuous price ascent can be seen, mirroring an uptick in significant investor transactions (represented by the red bars).

As a researcher, I’ve noticed an increase in transactions exceeding $100,000. This could indicate intensified trading by significant investors, possibly contributing to the ongoing price surge.

Fetch AI Price Soars 12%, Poised for 128% Bullish Surge, Is ATH Soon?

Should the current upward momentum continue, the AI-backed currency is poised for substantial growth. If this optimistic pattern remains consistent, FET might climb towards $2, and potentially surge to an unprecedented high of $3.47, representing a potential rise of 121%.

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2024-09-19 22:31