Observations by pseudonymous cryptocurrency analyst Rekt Capital point to a promising future for artificial intelligence (AI) cryptocurrency projects focused on Fetch.ai (FET).
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According to research from Rekt Capital, machine learning platforms are currently on a notable upward trend following a successful retest of key price levels.
Technical analysis reveals Fetch.ai’s momentum
The spotlight on the Fetch.ai retest illustrates the technical analysis perspective that a project’s price trend at this critical level serves as a key predictor of its future profit potential. Masu.
According to Rekt, FET has increased more than 300% since being added to the crypto watchlist. In terms of price fluctuations, the AI cryptocurrency rose from $0.53 on December 9th to $0.67 on December 16th.
Almost +300% increase since altcoin watchlist
Currently trying to break through one of the last resistances before hitting new all-time highs
— Rect Capital (@rektcapital) December 15, 2023
Moreover, technical analysis shows a positive situation for the cryptocurrency Fetch.ai, which recorded 60% of “green” trading days. Additionally, Fetch.ai is showing bullish signs from around 30 technical indicators.
The rise of AI-focused cryptocurrencies shows a growing awareness of the potential connections between blockchain technology and artificial intelligence.
A case in point is the significant increase in value of Fetch.ai (FET) following its partnership with SingularityNET (AGIX).
FETUSD currently trading at $0.77175 on the daily chart: TradingView.com
The collaboration between Fetch.ai and SingularityNET likely represents a strategic relationship aimed at maximizing technological synergies between the two companies.
SingularityNET is a platform that facilitates the production and trading of AI services. Fetch.ai benefits from SingularityNET’s experience and skills.
This partnership is focused on overcoming the following challenges: #LLM Enhanced hallucinations and multilevel reasoning 💡
Read all the details 👇 https://t.co/2WWukiqqH0
— Fetch.ai (@Fetch_ai) December 17, 2023
Synergy between crypto and AI: Catalyst for innovation
The partnership is evidence of the growing convergence of blockchain and artificial intelligence (AI), which many investors believe could usher in a new wave of innovation in the crypto space. There is.
At the time of writing, FET is trading at $0.76, up 7.5% in the past 24 hours and maintaining a weekly gain of 10% over the past week, according to Coingecko data.
FET performed a picture-perfect retest of the purple level this week as support
Let’s overcome the red resistance and try again.
The challenge to break the all-time record is very close
— Rect Capital (@rektcapital) December 19, 2023
It is possible that FET will reach new all-time highs, but it will be difficult. According to Rekt, the key next step to realizing this potential is a successful breakout of the red resistance level and turning it into a support level, which would be the turning point in the FET price trend. right.
All this information was taken into account by industry experts when creating Fetch.ai price predictions. They predict that Fetch.ai’s value will reach $0.77 by the end of 2023, making it a DeFi coin to watch.
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