Analyst Bullish on AI Altcoin
A well-known analyst and trader believes that a multi-million dollar altcoin could see a significant surge as the total cryptocurrency market cap approaches $1.5 trillion.
The analyst, known as The Flow Horse, shared with followers on social media his positive outlook on Fetch.ai (FET), a blockchain-based artificial intelligence (AI) and machine learning platform. According to The Flow Horse, FET has the potential to increase by approximately 130% from its current level if it clears the $0.45 resistance level.
At the time of writing, FET is trading at $0.434, up by slightly over 100% over the past month. The analyst also provided insights into Bitcoin (BTC) and Ordinals (ORDI).
Cautious Outlook on Bitcoin
The Flow Horse warned that Bitcoin could turn bearish if it fails to surpass the $38,000 resistance level convincingly. He suggested that Bitcoin might be forming a βbrief double top,β indicating a potential downside reversal in its price.
Bullish Momentum for Ordinals
The analyst expressed optimism about Ordinals (ORDI), highlighting signs of continued bullish momentum for the technology, which allows digital collectibles to be created on the Bitcoin network.
ORDI is currently trading at $25.79, up by approximately 380% over the past two weeks. The analyst’s insights into these altcoins provide valuable information for investors looking to navigate the crypto market.
Hot Take
With expert analysis pointing to potential growth opportunities for FET and ORDI, investors may want to keep a close eye on these altcoins for potential investment opportunities in the evolving crypto landscape.
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