Artificial Superintelligence Alliance (FET) Consolidates, Breakout Could Push Prices Above $2
- Artificial Superintelligence Alliance (FET) is consolidating within a falling wedge pattern, indicating a potential breakout.
- A move above $1.43 could push prices toward $1.65, $1.91, and $2.15.
- AI-related cryptocurrencies like FET, AGIX, and OCEAN are gaining investor interest.
- Bitcoins continued rally is boosting momentum for AI-driven tokens.
Artificial Superintelligence Alliance (FET) is showing strong signs of a breakout as the cryptocurrency market regains bullish momentum. With Bitcoin reaching new all-time highs, AI-related tokens, including FET, are once again pushing towards key resistance levels.
FET had an impressive start to 2024, hitting its all-time high in March when Bitcoin surged to $74,000. However, market-wide volatility soon led to a steep correction, with FET dropping to around $0.87 by August. This decline reflected broader market trends, as many altcoins struggled amid uncertainty and profit-taking.
A turnaround began in November, following Bitcoins breakthrough above the $100,000 mark. This milestone reignited investor confidence across the crypto space, with AI-driven tokens like Artificial Superintelligence Alliance gaining renewed interest. Since then, heightened volatility has resulted in dramatic price swings, making FET one of the most closely watched tokens in the market.
As of today, Artificial Superintelligence Alliance is trading at $1.24, marking a 1.42% gain over the last 24 hours. The token boasts a market capitalization of $3.03 billion and a 24-hour trading volume of $441.69 million, holding a 0.08% market dominance.
FET Targets $2+ as Bullish Pattern Forms
From a technical standpoint, FET is on the verge of a major breakout. The token has been consolidating within a falling wedge pattern on the daily timeframe, a formation typically considered a bullish reversal indicator. A strong bounce from the wedges support zone suggests growing bullish momentum, positioning the token for an upward move.
A confirmed breakout above the wedges resistance could trigger a rally, with key target levels set at $1.43, $1.65, $1.91, and $2.15. If momentum continues to build, the token could reclaim higher price levels, potentially aiming for its previous all-time high.
AI Cryptos Attract Investors as Market Heats Up
The resurgence of AI-related cryptocurrencies is becoming increasingly evident as blockchain and artificial intelligence continue to merge. Projects like FET, AGIX, and OCEAN are seeing a surge in interest, attracting both retail and institutional investors looking for exposure to the AI sector.
With Bitcoin leading the way and AI tokens gaining traction, the tokens breakout could be imminent. Whether it can sustain its rally will depend on broader market conditions, but all eyes are now on this AI-powered asset as it approaches a critical juncture.
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Text source: TronWeekly
