Crypto Analyst Says This AI Altcoin Will Hit A Fresh ATH After 300% Rally

Christian Encila

1 year ago

4 mins read

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The pseudonymous crypto analyst Rekt Capital’s observations point to a promising future for the artificial intelligence (AI) cryptocurrency project, with a focus on Fetch.ai (FET).

Along with with a sizable 377,500 followers on the social media network X, the analyst offers a bullish prediction, stating that Fetch.ai is about to reach a new all-time high (ATH).

Rekt Capital’s investigation shows that the machine learning platform is presently experiencing a notable upswing following a successful retesting of a critical price level.

Technical Analysis Illuminates Fetch.ai Momentum

The spotlight placed on Fetch.ai’s retest points to a technical analysis viewpoint in which the price behavior of the project at this crucial level acts as a key predictor of potential future profits.

FET has increased over 300% since the cryptocurrency watchlist, claims Rekt. In terms of fluctuation in price, the AI cryptocurrency went up from $0.53 on December 9 to $0.67 on December 16.

$FET

Up almost +300% since the Altcoin Watchlist

Now trying to breach one of the final resistances before new All Time Highs

Weekly Close above the red resistance would be bullish#FET #Fetchai #Crypto https://t.co/kNZBSTw7Nw pic.twitter.com/KUlU5ovkzH

— Rekt Capital (@rektcapital) December 15, 2023

Additionally, the technical analysis presents a positive picture for the cryptocurrency Fetch.ai, which has seen 60% of “green” trading days. Additionally, Fetch.ai is showing bullish indications from almost 30 technical indicators.

The rise in cryptocurrencies with an AI focus indicates a rising awareness of the possibilities at the nexus of blockchain technology and artificial intelligence.

An illustrative case in point is the significant increase in the value of Fetch.ai (FET) that followed its partnership with SingularityNET (AGIX).

FETUSD currently trading at $0.77175 on the daily chart: TradingView.com

The collaboration between Fetch.ai and SingularityNET most likely represents a strategic relationship with the goal of maximizing the technological synergies between the two enterprises.

SingularityNET is a platform that facilitates the production and trading of AI services. Fetch.ai could gain from SingularityNET’s experience and skills.

Earlier this week we announced we’ve strategically partnered with @SingularityNET to tackle some of #AI‘s biggest challenges! 🤖

This partnership focuses on overcoming #LLM hallucinations and enhancing multi-step reasoning 💡

Read all of the details 👇https://t.co/2WWukiqqH0

— Fetch.ai (@Fetch_ai) December 17, 2023

Crypto And AI Synergy: Catalyst For Innovation

This partnership is proof of the expanding fusion of blockchain and artificial intelligence (AI), which many investors think has the potential to usher in a new wave of innovation in the cryptocurrency space.

At the time of writing, FET was trading $0.76, up 7.5% in the last 24 hours, and sustaining a weekly gain of 10% in the last week, data from Coingecko shows.

$FET

FET performed a picture-perfect retest of the purple level as support this week

Trying again to break beyond the red resistance

Very close to challenging for new All Time Highs

Just needs to break this red resistance and flip it to support#FET #Fetchai #Crypto https://t.co/oCKhEegMyV pic.twitter.com/UptI8o74B1

— Rekt Capital (@rektcapital) December 19, 2023

There is a chance that FET would reach new all-time highs, which would be a challenge. According to Rekt, the crucial next step in realizing this potential is to successfully break through the red resistance and turn it into a level of support, which would represent a turning point in the price trend of FET.

All of this information was considered by industry experts when developing their Fetch.ai price forecasts. They anticipate that Fetch.ai’s value will reach $0.77 by the end of 2023, making it an intriguing DeFi coin to monitor.

Featured image from Shutterstock

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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