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The Fetch.ai price surged 24% in the last 24 hours to trade at $1.67 as of 4.15 a.m. EST on trading volume that skyrocketed 190% to $324.9 million.
The project, which allows users to build, deploy, and monetize AI services using its technology, saw its token price skyrocket around the same time as NVIDIA stocks saw another dip, dropping by almost 7% in the last 24 hours.
Currently, NVIDIA Corp stocks trade at $118.11 apiece, with some expecting the dip to continue. NVIDIA’s stock has also been down over 11% in the last five days, although it is still up 3.7% compared to this time last month.
#Nvidia CEO Jensen Huang Sold $95 Million of Stock last week and now other Big Players are also Selling $Nvidia 🙂
Today also down by 6%.
Down from $140 to $118.Meanwhile #Bitcoin is again falling and close to ₹60K.
What’s next? pic.twitter.com/czN3vbKCqV
— Amit Bhawani 🇮🇳 (@amitbhawani) June 24, 2024
Meanwhile, Fetch.ai’s FET token skyrocketed over 40% in the last week. However, the bearish influence seen over the last month is still being felt, as the token remains 28% down on a monthly basis.
Still, the FET price is currently struggling to breach a major resistance at $1.7, and if this level should break, FET would have an unobstructed road back toward $2. The only problem is that this resistance at $1.7 already rejected its price twice in the past two weeks, and it seems to still be too strong now.
Fetch.ai Price Prediction
While the Fetch.ai price saw a notable surge recently, there are some indicators that suggest that the popular AI token is about to see another price rejection. For the moment, the token sits close to a resistance at $1.7, but there are signs that this will soon change, and that its price might spiral down again.
For example, Fetch.ai’s Bollinger bands have suddenly narrowed over the last several hours, around the time when the surge stopped and it became clear that the resistance at $1.7 will not allow the token to progress.
This is a very bearish signal which suggests that the price might start a correction very soon.
An even more bearish signal came from the project’s Relative Strength Index (RSI) value, which climbed up to 86.67 yesterday, delving deep into the overbought territory. This was around the time when the Fetch.ai price attempted to breach the mentioned resistance, only to be proven unsuccessful.
Traders quickly started selling their FET tokens in anticipation of a price correction, which inflated the project’s volume. Right now, the price has yet to catch up to all the market activity, which seems to be getting strongly bearish, according to the RSI, which has since dropped to 46.49.
While in the neutral zone currently, RSI could continue to drop to the oversold area, which is when FET would start spiraling down again. So, if you are a trader or investor holding Fetch.ai, prepare to see another wave of bearish activity in hours and possibly days to come.
Promising Alternatives to Fetch.ai
While the FET price seems to be gearing up for a likely correction once more, there is an alternative that you can turn to that is still relatively safe compared to the rest of the market. It is also an AI cryptocurrency, although this one goes beyond that by venturing deep into the meme coin sector, as well.
The project in question is called WienerAI (WAI) — a crypto project that combines a dog, a sausage, and artificial intelligence to create a loyal, appealing, and technologically superior project.
WienerAI’s main product will be its upcoming trading bot — a ChatGPT-like trading companion that will allow users to inquire about the market and simply notify the bot of what step do they wish to take next. The bot will not only be able to instantly scour the market and use predictive tech to highlight new opportunities, but it will also conduct trading activities on behalf of the user.
WienerAI’s potential was also recognized by a popular crypto YouTube channel Cryptonews, which called it the next AI breakthrough.
WienerAI showed some of it in a recent preview on X, showing how easy it is to exchange coins and tokens with the upcoming trading companion and revealing that trading will be extremely easy to do with its product once it launches.
Consider WienerAI the ChatGPT of crypto.
Not only will the Bot find winning trades with unrivaled accuracy and give meaningful reasoning for its suggestions, but WienerAI is Swap-Enabled–meaning you don't have to leave the App to place your trades. (3/4) pic.twitter.com/5HFpCmVOHh
— WienerAI (@WienerDogAI) June 11, 2024
All of this is only scratching the surface, as the project also offers staking, and it has the ability to continuously evolve as new AI breakthroughs are made, all of which give it massive potential for growth. Its presale, which is slowly coming to an end, has already raised nearly $6.4 million while selling WAI for $0.000722. You can buy it with ETH, USDT, BNB, or credit/debit card.
As mentioned, the project’s presale will end soon, so don’t wait too long to join. Its potential is massive and essentially limitless, so giving it a chance might be highly rewarding.
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