The rise of artificial intelligence (AI) in the technology sector has taken hold in the cryptocurrency market. Using digital assets to fund AI-focused projects has helped Fetch.ai (FET) grow into a mature ecosystem. FET tokens are also used to pay for all services in the Fetch.ai ecosystem, including DeltaV, an AI-based marketplace. The Fetch.ai network has helped grow into a globally competitive ecosystem with AI agents operating in a decentralized environment.
Why FET Prices Will Soon Soar With New ATH
With less than 65 days left before the fourth halving, Bitcoin (BTC) rose past $50,000, sparking thoughts of a cryptocurrency supercycle. As a result, the altcoin market, led by Ethereum (ETH), is expected to benefit significantly from established cryptocurrency cash flows. AI-focused altcoins, including Worldcoin (WLD) and FET, have experienced notable price surges over the past few weeks.
Also read: Goldman Sachs predicts S&P 500 to reach 5,200 by 2024, in line with Bitcoin’s bullish trend.
According to renowned digital asset analyst Crypto Patel, the price of FET on the X platform will rise 10 times faster from current levels in the short term, reaching $10. It is worth noting that the price of FET has risen more than 75% over the past two weeks, trading at around 94 cents in early New York trading on Monday.
As FET price continues to test resistance levels near its all-time high of $1, derivatives investors would be wise to wait for confirmation before entering long-term trades. If FET price turns its current resistance into a support level, it would be safe to assume that a parabolic rally is imminent.