Is It Too Late to Buy Fetch.ai? FET Price at All-Time High as Another AI Coin Eyes Exchange Listing
As the AI narrative fuels major accumulation, leading AI cryptocurrency Fetch.ai has seen its FET price hammer up to a new all-time high after announcing a new GPU rewards platform.
This article will provide an analysis of FET’s current price trends and look to see whether a newer AI token, SCOTTY, represents a more promising investment opportunity at this time.
The king of AI coins $FET continues the ride above ATH after breakout of 5 days price range
On #FET/#BTC chart we confirmed this kinda ascending triangle with weekly close and continued to outperform
Will definitely look for new longs on dips here and still didn't sold anything… pic.twitter.com/eJoX47SLxV
— Trade4ddict (@Trade4ddict) March 8, 2024
Fetch.ai’s new all-time high comes after a series of big wins for FET amid the hysteria of the AI narrative, including Fetch Compute GPU rewards, and a Deutsch Telekom partnership.
With price action in a localized consolidation move, FET is currently trading at a market price of $2.55 (representing a 24-hour change of -0.97%).
This comes after a major +70% pump over the past 48-hours, following the Fetch Computer GPU announcement, saw FET price fire-up from lower support at $1.68.
The new all-time high was posted at $2.85, and in the hours since price has ebbed away from resistance in a -10% recoil as crypto markets take stock.
Despite the strong fundamentals stemming from the AI narrative, and the shift into price exploration, there are some causes for concern in FET’s long-time frame structure here.
The 20 DMA is currently sat at $1.48, with the FET price now stood at a significant +72% divergence above moving average support.
Key indicators such as the RSI are severely overheated, reading at 90.38 (and now over-bought for 19
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