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Is It The End Of The Road For AI Crypto Rally As Price Plunges 14% In 24 Hours?

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong. price under $0.40 price under $0.40

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AI crypto prices exploded in January following renewed investor interest in similar projects, some outside the crypto purview. Tokens like (FET) and SingularityNET (AGIX) left no stone unturned, accruing 108% and 334% in gains over a 30-day period. However, price has in the last two days been giving back 35% of its value from its new 2023 high of $0.61. price dodders at $0.3962 at the time of writing after sliding below a critical support level at $0.40. Bulls must ensure to recoup the ground above this price level to protect investor interest in the token, especially now that the entire crypto market is facing some turbulence. Price in Search for A Higher Support price is fighting off stubborn selling pressure that has engulfed it since midweek. Before, the sell-off began, investors looked forward to FET breaking and settling above resistance highlighted in the lower yellow band in confluence with the upper falling trend line.

From here, investors anticipated another breakout to close the gap to $1.00 and $1.20, respectively. With the attention AI crypto is getting, such a bullish move would be attributed mainly to the fear of missing out (FOMO), as market participants consider alternative assets to large and mid-cap coins. price below $0.40
FET/USD daily chart

Insight from the Moving Average Convergence Divergence (MACD) indicator shows bears are on the verge of taking the reins. Traders looking forward to shorting FET as it drops should, however, wait until the MACD line in blue flips below the signal line in red.

In event of a continued downward movement of the MACD toward the mean line, declines would intensify and possibly force FET to seek support downstream at $0.25 and $0.20. The 50-day EMA reinforces support at $0.25 while the 100-day (EMA) cements the buyer congestion at $0.20.

Fetch.ia price has validated the pullback if the shorter four-hour chart is considered. For instance, FET is now trading below the 50-day EMA in the same time frame, while sliding toward the next key support provided by the 100-day EMA (in blue) at $0.3620. price below $0.40
FTE/USD four-hour chart

A confirmed sell signal from the MACD elucidates how bears have the upper hand. Unlike in the daily time frame, the MACD line in blue has crossed below the signal line in red. Furthermore, the momentum indicator is starting to explore the negative region below the mean line at 0.00.

Investors will continue to lock in their gains as long as the MACD holds the same downward trend coupled with the red histograms below the mean line. Overhead pressure currently emanates from the broken support at $0.40 with likely to test support at $0.30, as highlighted by the 200-day EMA (in purple).

The same four-hour time chart reveals another sell signal from the Super Trend indicator. Like a moving average, this technical index overlays the chart. However, it goes ahead to incorporate readings from the average true range (ATR) to gauge volatility in the market.

Overhead pressure will keep beating down on price as long as the Super Trend indicator holds above FET, as observed on the chart. Sell orders triggered below $0.40 may be cashed out at the 100-day EMA (in blue) around $0.3620 but stubbornly bearish traders may want to wait until FET slides to the 200-day EMA at $0.30.

Investors use the SuperTrend to validate the direction of the trend and place trades with confidence. Therefore, the path with the least resistance for price is bound to stay downhill as long as the SuperTrend holds above the mean line.

Why Are AI Crypto Prices on The Move?

Investors started to pay more attention to artificial intelligence after OpenAI’s search tool ChatGPT took the world by storm. Microsoft moved swiftly with a $10 billion investment in OpenAI and hopes to integrate AI products and features into some of its consumer products like Microsoft Teams and Azure.

Google has also announced it has been working on AI features to ramp up services on Chrome, the leading search engine in the world. A recent report by JP Morgan, a gigantic investment bank, revealed that investors, especially institutional see AI shaping the trading industry in the future.

AI crypto will likely continue to be a hot topic in 2023 as big corporations rush to implement features in their existing and new products. Therefore, investors may find and other AI coins to be viable alternatives for long-term value growth. Price Alternatives to Consider Buying Today

Investors may want to consider other best altcoins to buy alongside side FET. We have selected the best crypto presales for 2023, likely to return above-average gains.

Our dedicated team of experts reviews cryptocurrencies for this list weekly to ensure you have access to crypto projects with a better risk-reward ratio.

For instance, Meta Masters Guild is a Web3 gaming platform that develops mobile games integrated with blockchain, enabling players to earn in-game rewards in an in-app currency called Gems.

All the initial games, Meta Kart Racers, NFT Raid, and Meta Masters World form a decentralized ecosystem, where Gems can be exchanged for MEMAG (native token) which can be staked for additional rewards.

MEMAG tokens are in high demand and the platform is in stage 6 of the presale where they have sold over $3.8 million worth of tokens in a matter of weeks. A token is selling for $0.021 during this stage after which it will rise to $0.023 in the seventh and last stage of the presale.

Visit Meta Masters Guild Now.

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