Fetch AI price prediction: In an explosive move that caught much of the market unaware, FET price surged by 29% yesterday, hitting a high of $1.515 and closing the day at $1.505. The surge in price continues, with the asset hovering around $1.69 at press time. This signifies a 10% increase from yesterday’s high. This upswing in price comes after Nvidia Corporation flipped Microsoft to become the largest company in the world by market cap.

Fetch AI Price Prediction: FET Bulls Look to Add 36% More Gains 

FET price experienced a sharp decline on Monday following an announcement from Binance to delist the asset. The ensuing FUD resulted in selling pressure building on the asset, driving the price to a low of $1.104. However, the price of FET began picking up on Wednesday.

The Fetch AI price action is trending below the 50-day level but has just exceeded the 200-day simple moving average (SMA). If the daily candle closes above the 200-day SMA, it may confirm an ongoing bullish trend. FET price found strong support on the weekly chart around $1.2 and bounced off it. Currently, the asset is at a support-turned-resistance level of around $1.76.

A break above this small barrier may result in a further upswing to $2.61, with a small stop around $1.93, which coincides with the 50-day SMA.

The relative strength index (RSI 14) has formed a double bottom on the daily time frame and is expected to rise to the 60 level. That would be a 29% increase from the current level of 46.

Why is Fetch AI Price Rising?

Fetch AI prices began to rise once more after news of NVIDIA flipping Microsoft came out. NVIDIA, the largest chip manufacturer in the world, rose by 3.51% in the last 24 hours to trade at $135.5, surpassing Microsoft. With a $3.335 trillion market cap, NVIDIA is now the largest company in the world, per company CoinMarketCap data.

The fear, uncertainty, and doubt (FUD) caused by Binance’s delisting announcements were also clarified, further fueling the price increase. FET will be replaced by the new merged token, Artificial Super Intelligence (ASI).

$fet is not getting delisted but will be replaced with $asi,
Some big whales are cashing on this news and creating FUD to let the innocents to sell so that they could get it as cheap as possible, @binance could have handled this well ,
Just know it will rip up very fast pic.twitter.com/QuOZlZyLuv

— WIZZ (beware sammers) (parody) (@Crypto_sinner) June 17, 2024

Whales took advantage of the market panic to buy in low, resulting in an explosive surge in price for FET. ASI-associated tokens also skyrocketed, with SingularityNET (AGIX) increasing by 25% in the last 24 hours.

According to the official Fetch AI website, ASI will launch at a $7.5 billion market cap and will be among the top 20 largest cryptocurrencies.

Bottom Line

The rise of AI and subsequently the success of Nvidia may trickle down to AI-based cryptos such as RNDR, FET, AGIX, and OCEAN surging in price. As the bull market matures, AI cryptos will only continue to rise, offering massive gains.

The post Fetch AI Price Prediction: Can FET HIT $2? appeared first on CoinGape.

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Filed under: News - @ June 20, 2024 7:18 am