Fetch.AI (FET) Price Prediction 2023-24: Will FET Meet Rally Expectations?

Artificial Superintelligence Alliance [FET] is drawing significant attention as it nears a potential trendline breakout that could trigger a 20-30% rally.

Artificial Superintelligence Alliance (FET) is nearing a potential trendline breakout that could trigger a 20-30% rally. Currently trading at $1.33, FET shows a slight dip of 1.19% in the last 24 hours. However, on-chain activity is growing and technical indicators hint at bullish momentum. Could FET meet these expectations and stage a remarkable rally?

Is a breakout above $1.38 on the horizon?

FET's price is currently trading within a descending channel, with $1.38 serving as the critical resistance level for a bullish breakout. A move beyond this threshold could propel the price toward $1.60, indicating the anticipated 20-30% surge.

According to historical price patterns, FET has successfully broken out of similar setups in the past. However, sustained volume and bullish momentum are essential to confirm this scenario and attract further investor interest.

On-chain activity signals increasing engagement

Over the past week, Fetch.AI has seen a surge in network activity. New addresses rose by 47.36%, while active addresses increased by 12.46%. These impressive numbers reflect heightened interest in FET and growing adoption within its ecosystem.

Moreover, this increased activity suggests confidence among investors, which often precedes significant price movements.

Exchange reserves hint at market sentiment

Exchange reserves have risen slightly by 0.12% to 471.4M FET, indicating that traders are holding coins on exchanges with caution. However, a shift toward lower reserves could indicate accumulation, creating upward price pressure. Keeping a close watch on this metric is critical for identifying sentiment changes and potential bullish signals.

FET technical indicators hint at possible momentum

Moving average (MA) cross suggests a possible upward trajectory, adding to bullish hopes. However, the Average Directional Index (ADX) at 15.76 indicates weak trend strength, requiring confirmation from price action and volume. This leaves traders eagerly awaiting stronger signals.

Liquidations could fuel bullish momentum

Liquidation data shows $13K in short liquidations compared to $1.56K in longs, highlighting bearish dominance in the short term. However, a breakout above $1.38 could trigger significant short liquidations, potentially driving a sharp price rally. Such a scenario could amplify bullish sentiment and create substantial upward momentum.

Artificial Superintelligence Alliance [FET] Price Prediction 2024-25

With all the elements in place for a 20-30% rally if it breaks above the $1.38 resistance level, Fetch.AI appears set to deliver on its rally expectations in the near future.