Fetch.ai Price Surge Driven by Partnership and AI Tool
The Fetch.ai price has surged by 15% in the past 24 hours, trading at $0.9501 as of 06:56 a.m. EST. This surge is driven by a collaboration with Deutsche Telekom to support the advancement of its blockchain. Additionally, OpenAIโs announcement regarding its latest AI tool, Sora, has had a positive effect on other AI altcoins, such as WLD and ARKM. Fetch.ai is trending above the upper boundary of the ascending triangle, indicating a bullish momentum. The price long-term analysis shows signs of continued bullish momentum, with a potential 35.10% increase from the current price.
Fetch.ai Price Trending Above The Upper Boundary Of The Ascending Triangle
The Fetch.ai price has been on an uptrend, reaching a two-year high after a surge of 43% in the last week. Itโs currently trading above both the 50-day and 200-day Simple Moving Averages, with the Relative Strength Index and Moving Average Convergence Divergence indicating a bullish momentum. The Average Directional Index is moving to the north, showing a strong trend. The uptrend has allowed the bulls to breach the upper boundary of the ascending triangle.
Fetch.ai Price Prediction
The long-term analysis shows signs of continued bullish momentum, with a potential 35.10% increase from the current price. Additionally, the 50-day SMA is trading above the 200-day SMA, forming a golden cross indicating a prolonged bullish outlook. In a reverse scenario, if the bears take control of the price, they could lead to a retracement down to the support zone at $0.508.
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Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.