Fetch.ai Skyrockets on Merger News, Aims for New Record High

The Fetch.ai price has increased 5% in the last 24 hours to reach $3.18 as of 00:08 a.m. EST. This follows the project's recent merger with SingularityNET and Ocean Protocol to create the Superintelligence Alliance (ASI), with the goal of becoming the largest decentralized AI project globally.

Fetch.ai Price Surges on Merger News, Eyes New All-Time High

The cryptocurrency market witnessed a significant surge in the value of Fetch.ai (FET) following the announcement of its merger with SingularityNET and Ocean Protocol to form the Superintelligence Alliance (ASI). The merger aims to create the largest decentralized artificial intelligence (AI) project globally.

Price Analysis

Within hours of the merger announcement, Fetch.ai's price skyrocketed to a new all-time high (ATH) of $3.45 on March 28th. However, it subsequently retraced slightly to trade at $3.18 at 00:08 a.m. EST on March 29th. The trading volume, however, experienced a significant drop of 36% to $710 million.

The bullish momentum for FET has been bolstered by the formation of a double bottom around $2.37, which has fueled a surge in price within a rising channel pattern. Investors are now eyeing further price gains.

FET is currently trading well above the 200-day Simple Moving Average (SMA), indicating a bullish outlook. A sustained bullish stance could enable the price to overcome the 50-day SMA barrier at $3.30 and potentially reach even higher levels.

On the 30-minute timeframe, the Relative Strength Index (RSI) is trending downwards towards oversold levels at 34, suggesting that the asset is currently in an oversold position. This aligns with the current price downtrend from the recent ATH.

Price Prediction

Despite the recent downward movement in price, major indicators suggest a potential trend reversal. FET remains within the rising channel pattern, and the 50-day SMA is trading above the 200-day SMA, forming a golden cross at $2.49, which signals potential upward movement.

The oversold levels of the RSI further support the possibility of an impending trend reversal to the upside. Bulls are targeting a new ATH of $4.00, which represents a 25% increase from the current price.

However, if the bears continue to exert pressure on the price and take profits from the recent surge of FET, which has seen an 184% gain in the last month, the price could retrace. In this scenario, the 200-day SMA at $2.97 may provide support for the bulls.

5thScape: A Compelling Investment Opportunity

While FET continues to attract attention, investors are also exploring alternative investment opportunities. 5thScape (5SCAPE), a first-of-its-kind augmented reality (AR)/virtual reality (VR) mixed-reality crypto platform, has emerged as a promising project.

5thScape aims to revolutionize the gaming industry by merging blockchain technology with VR. The project has already garnered attention with its plans for innovative VR hardware and a diverse range of games, including Cage Conquest and Epic. Additionally, the team has plans to develop a comprehensive VR/AR ecosystem encompassing game development, animation, and specialized hardware manufacturing.

Investors can participate in the ongoing 5thScape presale, which is currently in its third stage and has raised over $2.89 million towards its target of $3.75 million. The presale offers an opportunity to acquire 5SCAPE tokens at a discounted price, with the launch price set at $0.01.

99Bitcoins, a popular crypto YouTube channel, predicts that 5thScape has the potential to surge by 100X after launch, offering investors significant return prospects.

Investors can purchase 5SCAPE tokens directly from the official website using a digital wallet or a bank card. The presale supports ETH, MATIC, USDT, and BNB as payment options.

Conclusion

The merger of Fetch.ai, SingularityNET, and Ocean Protocol has fueled optimism in the decentralized AI space. FET's price surge is an indication of the market's positive sentiment. However, investors should approach any investment decision with caution.

5thScape, with its innovative approach to AR/VR gaming, presents an intriguing alternative investment opportunity. The project's ambitious plans and potential for significant gains make it worthy of consideration for investors seeking high-growth potential.