Will The Top AI Coin FET Price Jump To $5?  

The post Will The Top AI Coin FET Price Jump To $5?   appeared first on Coinpedia Fintech News

AI-linked cryptocurrencies are making a comeback, as Bitcoin trades close to the $70K mark. Amidst the SingularityNET, Fetch.ai, and Ocean Protocol merger buzz, the AGIX price, OCEAN price, and FET price skyrocketed this week. 

Further, the growing anticipation of an altcoin season, with the upcoming Bitcoin Halving this April 19th, fuels the market’s FOMO. 

This week, the FET price is up by almost 20%, undermining the 7.86% drop last week. With this bullish reversal, the AI-linked altcoin presents a new potential rally to hit the $5 mark. 

Fetch.AI Price Performance

With a $2.602 Billion market cap, the trading volume of the Fetch.AI token surpasses the Billion-dollar mark with a 67% rise. Further, with the 30% rise in FET price, the altcoin discovers a fresh surge in underlying demand. 

With a new all-time high formation at $3.34, the altcoin takes a short pullback and currently trades at $3.0993. Further, Fetch.AI shows a Doji intraday candle in the making, as it takes a short pause after four consecutive bullish candles. 

Will FET Price Hit A New High At $5?

TradingView

In the 4H chart, the FET price action shows a pullback reversal leading to an overhead resistance trendline breakout. This breakout gives birth to the ongoing rally and challenges the $3.40 mark. 

Further, as per the trend-based Fibonacci levels, Fetch.AI challenges the 50% Fib level at $3.39. However, a breakout above this level could pump the AI token price to the $4.44 mark. Hence, the sideline traders are awaiting the $3.39 breakout as a potential breakout entry spot.

In the daily chart, the rounding bottom reversal supports the possibility of a bull run. Further, the FET price challenges the overhead Bollinger band, reflecting a bullish surge. 

However, the MACD and signal lines in the 4H timeframe prepare a negative crossover as the supply at $3.39 hits the altcoin.