A Crypto Analyst Predicts AI Altcoin Could Reach New All-Time High
A popular crypto analyst believes that an artificial intelligence (AI) altcoin project is on the verge of reaching a new all-time high (ATH). According to the pseudonymous trader Rekt Capital, Fetch.ai (FET), a machine learning platform, has the potential to achieve new ATHs after successfully retesting a crucial price level.
Rekt Capital’s chart shows that FET recently retested the $0.59 level and needs to flip the resistance at around $0.73 into support in order to hit a new ATH. In September 2021, FET reached its ATH of $1.17. Currently, FET is trading at $0.77, experiencing a 10.6% increase in the last 24 hours.
Predictions for Bitcoin and Altcoin Market Cap
Rekt Capital also predicts that Bitcoin (BTC) will not surpass $46,000 until 2024, based on historical price patterns. He suggests that Bitcoin has never broken its four-year cycle resistance in a pre-halving year but will comfortably exceed $46,000 in 2024.
In addition, the trader notes that the total crypto market capitalization, excluding the top 10 digital assets by market cap, is currently retesting a significant level to the downside.
Hot Take: AI Altcoin Poised for New All-Time Highs
According to crypto analyst Rekt Capital, Fetch.ai (FET), an artificial intelligence altcoin project, could soon reach new all-time highs. After successfully retesting a key price level, FET is close to challenging for new ATHs if it can break through resistance and turn it into support. With its machine learning platform, FET has the potential to surpass its previous ATH of $1.17. As the crypto market continues to evolve, AI projects like Fetch.ai could play a significant role in shaping the future of cryptocurrencies and blockchain technology.
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