Fetch.ai (FET) Price Prediction 2023- Will FET Token Top $2?

With a $3.544 billion market cap, Artificial Superintelligence, or FET, maintains a significant dominance in the crypto-AI segment.

Artificial Superintelligence (FET), with a market capitalization of $3.544 billion, continues to lead the crypto-AI segment. Currently, FET is priced at $1.41, having risen 8.21% over the past 24 hours.

Throughout the last seven days, AI crypto tokens have seen an uptick, as have DeFi tokens. The price of the FET token has increased by 25.11% over the last week.

Performance of the FET Token Price

Despite Bitcoin's difficulties prior to the release of CPI data, the FET price remained stable last week, showing a rise of 20% at the time. Currently, the daily chart for the AI token shows a falling channel pattern, indicating a strong trend reversal.

The recent bull cycle began at the $1 psychological level and has seen a 32.54% increase over the last five days, including an intraday rise of 3.62%. As a result, the FET token price is preparing to create its fifth consecutive bullish candle.

Tradingview

Additionally, the FET price forms an inverted head and shoulder pattern over a shorter time frame. Buyers are about to break the pattern, with the 200-day EMA serving as the neckline.

Technical indicators:

Moving Averages (EMA): The crucial 50-day and 200-day EMAs are bearish, but the 50-day EMA is rising, teasing a golden crossover.

MACD: The MACD indicator also shows a bullish crossover in positive territory, with a strong increase in bullish histograms.

The technical indicators are suggesting a possible buying opportunity, as the moving averages are signaling a trend reversal and the MACD indicator is showing strong buying momentum.

Can the FET Token Reach $2?

The uptrend in FET price will be significant if the intraday candle manages to close above the 200-day EMA.

As a result, the momentum and dynamic average lines strongly indicate a breakout rally. Furthermore, the falling channel's breakout rally continues and aims for the next resistance level at $1.5596 (38.20%).

Despite a slight possibility of a $1.28 retest, the AI token has targets at $1.8843 (50%) and $2.2090 (61.80%), respectively.

Interested in FET's long-term targets? Check out our FET Price Prediction 2024-2030!

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