Fetch.ai (FET) Price Eyes New ATH After Remarkable 620% Yearly Growth

Fetch.ai’s been on a wild ride lately, smashing through its records! In just 30 days, it shot up by a whopping 67%, and over the past year, it’s soared an incredible 620%. Experts say it’s set to hit $1.27 by 2024. With this momentum, cryptocurrency analyst Rekt Capital has delved into an in-depth analysis of Fetch.ai’s current movement, exploring various key factors and indicators to predict why it’s projected to hit a new all-time high (ATH) soon.

Analyst’s Bullish Outlook on AI-Driven Altcoin

Rekt Capital’s recent insights, shared with his X followers, highlight Fetch.ai’s promising performance on the machine learning platform. The analyst identifies critical support and resistance levels, pinpointing a key scenario for FET’s trajectory. A successful retest of the $0.59 support level has positioned Fetch.ai optimistically close to breaching the $0.73 resistance, a crucial move for triggering a surge to new all-time highs. 

FET’s previous peak at $1.17 in September 2021 serves as a historical marker, with the current trading value at $0.77, marking a notable 10.6% surge in the last 24 hours. The technical analysis for Fetch.ai also looks good, with about 60% of days showing positive trading. Nearly 30 technical indicators are pointing towards a bullish trend for Fetch.ai.

Catalyst behind the Surge!

This positive outlook is supported by future events, such as an eagerly anticipated airdrop where Fetch.ai plans to give away $500 worth of FET tokens. The recent rally in Fetch.ai has been boosted by this news, which supports forecasts that the price will reach a high point in the coming months. 

In addition to Fetch.ai and Bitcoin, Rekt Capital draws attention to the broader altcoin market’s ongoing dynamics. The analysis spotlights a crucial retest in the altcoin market capitalization, excluding the top 10 digital assets by market cap. This evaluation underscores the intricate movements within the altcoin space, hinting at potential shifts and trends influencing these diverse digital assets.