Fetch.ai Price Prediction: Can FET Reach $5 Riding On AI Super Intelligence Merger?

Fetch.ai price prediction: FET, an artificial intelligence blockchain network, has seen a significant price recovery over the past 24 hours. The AI token is trading at $1.64, with a robust surge of 5.18%, indicating a bullish trend. According to data from CoinMarketCap, the token’s market capitalization has increased by 5.18% to $1.4 billion, securing its position as the 64th largest cryptocurrency by market cap.

The 24-hour trading volume for Fetch.ai stands at approximately $193.6 million, showcasing substantial investor interest despite the overall market volatility

Fetch.ai Price Prediction: When Is FET Likely To Reach $5?

Over the past week, FET price has decreased by 22% after bearish sentiment gripped the market. However, over the past day, the token has shown signs of a modest recovery, trading in a range of $1.53 to $1.75. This rebound could suggest that investors are starting to see value at these lower price points, potentially setting the stage for a more sustained upward 

The AI tokens are experiencing a robust recovery, led by Bitcoin’s recent bullish reversal. Fetch.AI’s token, FET, notably displays a strong uptrend from a crucial support level. This week, the token is poised to break through the overhead resistance trendline. 

Over the past 24 hours, AI coins, including Render, The Graph, Bittensor (TAO), and SingularityNET (AGIX), have all witnessed significant price increases. This surge propels FET and other AI tokens, indicating a vibrant market rebound.

FET Super Intelligence Merger Details and Implications on Tokenomics

Fetch AI, Ocean Protocol, and SingularityNET have announced a new merger date: July 15th. Initially set for this Thursday, the change reflects strategic planning. Post-merger, Fetch AI’s FET token will be discontinued and replaced by the Super Intelligence (ASI) token, marking a significant consolidation in cryptocurrency. This is the first merger of its kind.

With the current recovery, Fetch.ai shows upward solid momentum after recent losses. This improvement hints at a potential entry into a bullish phase. If the upward trend persists, FET could break the $2 resistance level.  If this momentum continues, Fetch.ai could approach $3 and reach $5 in the foreseeable future, hitting ATH.

However, a shift toward market negativity could alter the trajectory. In such a scenario, FET might find support at $1.6. If the decline extends, the price could drop to around $1.5. Further bearish pressure could push the value of this artificial intelligence coin down to a strong support level at $1.3, indicating significant selling pressure.

The technical indicators for Fetch.ai on the 4-hour chart show signs of a potential shift in momentum. The Relative Strength Index (RSI) is currently at 44. This places FET in a neutral zone, neither significantly overbought nor oversold, hinting at a potential for a bullish trend.

The Moving Average Convergence Divergence (MACD) indicates a slightly bearish sentiment. The signal line diverges below the MACD line, highlighting increasing selling pressure. Additionally, the MACD histogram shows shorter bars, reflecting a decrease in the short term as the price is recovering.

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