Fetch.ai Price Prediction: FET Pumps Another 5% As Top Analyst Predicts Imminent Breakout And Experts Say This Innovative New AI Meme Coin Might 10X

The Fetch.ai price pumped more than 5% over the past 24 hours to trade at $0.9604 as of 9:55 a.m. EST as investors rush to buy the AI crypto.

And a crypto analyst who goes by the pseudonym The Flow Horse told his 202,100 followers on X that the FET price may soon print a new all-time high.

In the post, the analyst said FET’s spot cumulative volume delta (CVD) has been steadily rising. This, according to the analyst, suggests that market participants are rapidly accumulating the altcoin.

The Fetch.ai Price At Risk Of Dropping Out Of A Bullish Channel

4-hour chart for FET/USDT (Source: TradingView)

The Fetch.ai price has formed a medium-term positive price channel over the past few days, but may be at risk of falling out of this channel in the next 12 hours. Should the altcoin close a 4-hour candle below the lower boundary of the bullish channel, it could drop to the immediate support level at $0.8600 in the following 24 hours.Falling below this significant price point may then put the crypto at risk of plummeting all the way down to $0.6520 in the short term.

This bearish thesis may be invalidated if the Fetch.ai price rebounds off of the lower boundary of the bullish price channel in the next 8 hours. In this alternative scenario, FET may look to continue its bullish trend, which may lead to it challenging the next major resistance level at $1.1180 in the coming days.

Technicals Warn The Fetch.ai Price May Keep Dropping

Technical indicators on FET’s 4-hour chart suggest the altcoin may continue to drop in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flagging bearish.

The MACD line recently crossed below the MACD Signal line. Traders generally see this as a major technical flag that confirms a crypto has entered into a short-term bearish trend. Sellers also have the upper hand against buyers, as the RSI is breaking away below its Simple Moving Average (SMA) line. Should these technical flags be validated, the Fetch.ai price may soon test the $0.860 support level.

While Fetch.ai tries to stay within its bullish channel, another AI project by the name of Scotty the AI is quickly gaining traction in the crypto market as its presale races towards $500k.

Bringing AI Enhancements To Meme Coins And Crypto

The face of Scotty the AI is a Scottish Terrier, a dog breed known for its incredible intelligence and extreme loyalty. This aligns perfectly with Scotty the AI’s integration, which enables it to explore endless lines of code to extract valuable insights that even veteran blockchain developers would miss.

Scotty the AI: The Next Big Meme Coin Trend to Keep an Eye onhttps://t.co/UNnEiHXGzW

💥BUY presale herehttps://t.co/zRmy4g8hfW pic.twitter.com/zcd8qeRJZB

— Scotty The Ai (@ScottyThe_Ai) February 16, 2024

Looking To Earn The Meme Coin Community’s Trust

The crypto community is built on trust. This is even more true for the meme coin space. Therefore, the primary objective of Scotty the AI is to establish itself as a recognized and reputable figure in the meme coin sector. 

Once it has established itself as a reliable insight detection tool, the project will then open up its suite of sophisticated AI-powered solutions to traders, with the intention of enhancing their security, protecting them from frauds and mitigating risk for them while trading.

Multiple AI-powered products are already on offer within the Scotty the AI ecosystem. One of the project’s flagship offerings is Scotty Swap. This is an AI-powered decentralized exchange which, through AI, ensures that all trades are secure while also maximizing gains for traders.

There is also ScottyChat, which is an AI crypto companion that is able to engage with investors in discussions about different cryptos. It also offers market insights and assists investors in navigating the complex Web3 realm. 

SCOTTY can be purchased here. 

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