FET Soars as Bullish Pennant Breakout Sets Stage for $3.2 Target
NAIROBI (Coinchapter.com) – Fetch.ai’s native token, FET, has captured the attention of the crypto community, soaring over 70% in the past week. This remarkable upswing coincides with the project’s advanced GPU procurement efforts and a promised $10 million investment from the cryptocurrency exchange Bitget.
Bullish Technicals and Merger Prospects Desire
Fetch.ai (FET) is experiencing a significant rally, driven by the formation of a bullish pennant pattern and mounting excitement surrounding its upcoming merger into the Alliance for Super Artificial Intelligence (ASI).
Crypto analyst Captain Faibik sees a promising future for Fetch.ai (FET). He points to a bullish pennant breakout on the daily chart. This pattern suggests another powerful rally could be in store, potentially doubling the price. A morning star candlestick pattern strengthens Faibik’s bullish outlook. His analysis predicts that FET could surge 137.5% and reach $3.2.
Over the last 24 hours, FET has soared by 9.90% to reach $2.43, aligning with a broader bullish trend in the AI crypto sector. Currently, the total market capitalization for AI-focused cryptocurrencies stands at $27.7 billion, marking a 9.5% increase in the last 24 hours.
Moreover, FET’s impressive market cap of $2.05 billion and a 24-hour trading volume of over $307 million signal continued momentum. With 848.19 million tokens in circulation and a maximum supply of 2.63 billion, strong growth potential remains. The upcoming merger with AGIX and OCEAN could fuel further gains.
Upcoming ASI Merger Adds Fuel to FET Bull Pennant Fire
Additionally, the upcoming merger of FET, AGIX, and OCEAN into the ASI token has boosted investor excitement. DeGate, a decentralized exchange featuring an order book DEX protocol powered by Zero Knowledge rollup, has identified potential arbitrage opportunities related to the token consolidation set for May 24th.
FET’s technical signals are undeniably compelling. The token’s bullish prospects are further amplified by the forthcoming merger with AGIX and OCEAN tokens to form the Artificial Superintelligence Alliance (ASI). DeGate is a decentralized exchange featuring an order book DEX protocol powered by Zero Knowledge rollup. It has identified potential arbitrage opportunities related to the token consolidation set for May 24th.
Notably, the merger of Fetch.ai, SingularityNET, and Ocean Protocol has gained approval across constituent communities. This sets the stage for token integration. To facilitate this process, 1,477,549,566 new FET tokens have been minted. AGIX and OCEAN holders will convert their holdings to the new ASI token at predetermined ratios.
Above all, with the merger set for May 24th, investors should closely monitor FET’s price action. Technical analysis and fundamental developments indicate potential for significant growth within this rapidly expanding sector.
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