A closely followed crypto strategist believes that one artificial intelligence (AI) focused altcoin could soon surge to new all-time highs (ATH).
Pseudonymous analyst Rekt Capital tells his 382,100 followers on the social media platform X that Fetch.ai (FET) could remain in an uptrend if it breaks through a key resistance level on the monthly chart.
“A dip is in progress into the local support (purple).
Retest is successful thus far there.
Continued stability here and FET will challenge its final major resistance (red) for a chance at new all-time highs.
Price discovery is a matter of time.”
FET closed at $0.204 on October 19, 2023, and is trading for $0.730 at time of writing, a gain of nearly 258%. FET reached an all-time daily high of $1.17 in November 2021.
Fetch.ai is a blockchain-based AI platform that aims to automate supply chain logistics or record-keeping for individuals or organizations.
Next up, the trader says that Ethereum (ETH) could move to the upside if it holds a key support level at $2,274.
“ETH is in the process of retesting the $2,274 level (red) as support.
Successful retest here would enable a +22% move to the upside.
Green pathway still intact for as long as red continues to act as support.”
Looking at the trader’s monthly chart, he suggests that ETH could be heading to the $2,791 level.
Ethereum is trading for $2,266 at the of writing, up more than 2% in the past 24 hours.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3