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The Fetch.ai price surged more than 11% in the last 24 hours to trade at $2.46 as of 6:15 a.m. EST as investors rush to buy the AI crypto.
With this latest gain, FET’s weekly performance has been pushed deeper into the green zone. As a result, the Fetch.ai price is up more than 14% over the past 7 days. However, the altcoin is still in the red by more than 6% on the monthly time frame,
The Fetch.ai Price Breaks Above Major Resistance
4-hour chart for FET/USDT (Source: TradingView)
The Fetch.ai price broke above the major resistance level at $2.3715, and is now attempting to flip the barrier into support. Closing the next two 4-hour candles above this mark could give the crypto the foundation needed to keep climbing in the coming 24 hours.
Traders might therefore identify a sustained position above $2.3715 as a short-term long entry. With this potential influx of buy power, the Fetch.ai price could climb to $2.6655 to possibly rise above the threshold as well. In an extremely bullish scenario, FET could rise to as high as $2.8981
On the other hand, a break below the $2.3715 price point in the coming 12 hours might invalidate the bullish thesis. In this alternative scenario, FET could be at risk of testing the $2.1530 mark in the following 48 hours.
Continued sell pressure should the Fetch.ai price fall to $2.1530 might then lead to the altcoin losing this crucial technical crutch. Traders might keep panic-selling the crypto as a result, which could pull its price down to $1.9819.
Technicals Suggest The Fetch.ai Price Might Keep Climbing
Technical indicators on FET’s 4-hour chart suggest the Fetch.ai price might keep climbing in the coming 24 hours. Traders and investors will still want to tread carefully, however, as the altcoin attempts to challenge another key resistance.
FET currently finds itself in a bullish trend, as evident by the Moving Average Convergence Divergence (MACD) indicator on its 4-hour chart. With the MACD line positioned above the MACD Signal line, it seems that Fetch.ai’s positive momentum shows no signs of slowing down just yet.
The Relative Strength Index (RSI) also suggests that buyers are still stronger than sellers on FET’s charts. Although the RSI is positioned bullishly above its Simple Moving Average (SMA) line, the former has started to decline. This could be an early sign of buyers’ strength diminishing.
The RSI’s position in overbought territory is also cause for concern. Usually, traders identify an RSI position above 60 as a sell signal since it signals greater downside potential than upside potential. With FET’s 4-hour RSI at around 70, sellers might soon enter the crypto’s charts.
While the Fetch.ai price attempts to keep its bullish streak going, investors are flocking to a new meme coin competitor by the name of WienerAI for potential parabolic gains.
The Latest Canine-Themed Crypto To Enter The Meme Coin Space
WienerAI is an AI-powered meme coin that aims to be a companion for crypto traders and investors. Through its user-friendly platform, even beginners can utilize the project’s powerful AI models to make more informed investment decisions and identify hidden opportunities.
What’s more, WienerAI’s team has expressed their commitment to continuously developing their AI technology. This means that users will have access to AI models that will remain ahead of the curve even as AI technology advances.
This is one of the reasons an analyst from the 99Bitcoins YouTube channel recently called the meme coin a 100X gem.
Users will also be able to ask the bot questions directly and receive unbiased analysis and insights. Unlike many other AI market models, WienerAI can be embedded with decentralized exchanges as well to assist users in capitalizing on lucrative opportunities in the DeFi sector.
Investors Bet Big On WienerAI
Investors have flocked to WienerAI’s presale, pouring more than $1 million into the token at this early stage. Apart from the great speculative opportunity, the project is also offering anyone who buys the token at this early stage an eye-watering 853% APY.
A HUGE MILESTONE!
Just WAIT until you see what we have in store.
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— WienerAI (@WienerDogAI) May 4, 2024
Investors that want to get in on this opportunity can do so via the project’s website. Selling for $0.000704, the canine-themed crypto can be bought using either ETH, BNB, USDT or bank card.
Purchase and stake WienerAI here for up to 853% in annual rewards.
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