AI Altcoin Set to Reach New All-Time Highs, Analyst Predicts
Crypto analyst Altcoin Sherpa believes that Fetch.ai (FET), an artificial intelligence (AI) project, is poised to achieve new highs in the near future. The analyst, who has a following of over 200,000 on X social media platform, highlights the bullish narrative surrounding Fetch.ai as it looks ahead to 2024.
Fetch.ai is a blockchain-based AI platform that aims to automate various tasks and systems for individuals and organizations. The platform utilizes AI agents to plan and execute tasks such as supply chain logistics and recordkeeping.
Altcoin Sherpa suggests that a potential dip in FET’s native token down to $0.50 could present a buying opportunity for bullish investors. However, he also mentions a significant supply zone between $0.75 and $1 as a challenging area to buy.
Polygon (MATIC) Poised for Short-Term Gains
The crypto analyst also shares his views on Ethereum scaling solution Polygon (MATIC). According to Altcoin Sherpa, MATIC has lagged behind other altcoins in the recent market run-up, indicating that it may be time for the token to catch up. He targets the $1.20 range for MATIC, which would represent a 22% gain from its current price of $0.98.
While MATIC appears strong in the short term, Altcoin Sherpa advises treating it more as a trade rather than an investment. He notes that it remains uncertain whether MATIC will outperform other narratives or layer-1 coins in 2024.
Hot Take: AI Altcoin Shows Promise for Future Growth
According to Altcoin Sherpa, Fetch.ai has a strong bullish narrative and is expected to reach new all-time highs in the near future. The blockchain-based AI platform aims to automate tasks and systems using AI agents. While a dip in the project’s native token, FET, may present buying opportunities, there is also a challenging supply zone to consider.
Additionally, Altcoin Sherpa highlights Polygon (MATIC) as a token that has potential for short-term gains. Although it has lagged behind other altcoins, he believes MATIC could reach the $1.20 range. However, he advises treating it as a trade rather than an investment.
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