Is It Too Late to Buy Fetch.ai? FET Price at All-Time High as Another

Описание: Sam Cooling

Last updated:

March 8, 2024 09:06 EST
| 4 min read








































As the AI narrative fuels major accumulation, leading AI cryptocurrency Fetch.ai has seen its FET price hammer up to a new all-time high after announcing a new GPU rewards platform.

This article will provide an analysis of FET’s current price trends and look to see whether a newer AI token, SCOTTY, represents a more promising investment opportunity at this time.







Fetch.ai’s new all-time high comes after a series of big wins for FET amid the hysteria of the AI narrative, including Fetch Compute GPU rewards, and a Deutsch Telekom partnership.

FET Price Analysis: As Fetch.ai Hammers New All Time High – Could FET Undertake Price Correction?.


With price action in a localized consolidation move, FET is currently trading at a market price of $2.55 (representing a 24-hour change of -0.97%).

This comes after a major +70% pump over the past 48-hours, following the Fetch Computer GPU announcement, saw FET price fire-up from lower support at $1.68.

The new all-time high was posted at $2.85, and in the hours since price has ebbed away from resistance in a -10% recoil as crypto markets take stock.



Despite the strong fundamentals stemming from the AI narrative, and the shift into price exploration, there are some causes for concern in FET’s long-time frame structure here.

The 20 DMA is currently sat at $1.48, with the FET price now stood at a significant +72% divergence above moving average support.

Key indicators such as the RSI are severely overheated, reading at 90.38 (and now over-bought for 19 days).

However, this view conflicts with the bullish momentum fuelled by AI excitement, which is measured on the MACD at minor bullish divergence (0.1199).

Overall, FET price analysis reveals a major breakout move – that continues to defy technical analysis due to extreme market excitement around AI cryptocurrencies.



This leaves FET with an upside target at the psychological price level $3 (a possible +18).

While downside risk could see FET tumble down to lower support at $1.69 (a potential -33.5%).

Consequently, FET price analysis suggests a short-time frame risk: reward of 0.54 – a bad entry characterized by downside risk of retracement – suggesting it is too late to buy.

But while Fetch.ai’s high price point turns some investors away, another AI narrative winner, Scotty the AI, could offer a more desirable entry point due to low...

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***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
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