A Promising Altcoin with AI Focus Could Surge to New All-Time Highs, According to Analyst
A crypto strategist believes that an altcoin with a focus on artificial intelligence (AI) has the potential to reach new all-time highs. Rekt Capital, a well-known analyst, suggests that Fetch.ai (FET) could continue its upward trend if it breaks through a crucial resistance level on the monthly chart.
FET closed at $0.204 in October 2023 and is currently trading at $0.730, marking a gain of almost 258%. The altcoin previously reached an all-time high of $1.17 in November 2021.
Fetch.ai is a blockchain-based platform that aims to automate supply chain logistics and record-keeping for individuals and organizations using AI technology.
Ethereum Could Experience Upside Movement with Key Support Level
The analyst also suggests that Ethereum (ETH) could see a positive move if it maintains a critical support level at $2,274. Rekt Capital states that if ETH successfully retests this level as support, it could potentially experience a 22% upward movement.
According to the analyst’s monthly chart analysis, Ethereum could potentially reach the $2,791 level.
At the time of writing, Ethereum is trading at $2,266, with a gain of over 2% in the past 24 hours.
Hot Take: AI Altcoin Shows Strong Potential for Growth
Fetch.ai, an altcoin that focuses on artificial intelligence (AI), has caught the attention of crypto strategist Rekt Capital. With its recent surge and potential breakout above a key resistance level, Fetch.ai could be on track to achieve new all-time highs. Similarly, Ethereum is also showing promise as it holds a crucial support level and aims for an upward move. These developments highlight the growing influence of AI in the cryptocurrency market and suggest exciting possibilities for investors and enthusiasts alike.
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