Dtravel and Fetch.ai Partner to Usher in a New Era of AI-Powered Vacation Rental Experiences

Dtravel has announced a strategic partnership with Fetch.ai, a decentralized network for emerging peer-to-peer economies.

Vacation rental discovery platform Dtravel has joined Fetch.ai’s AI agent marketplace. This will integrate Dtravel’s AI agent into Fetch.ai’s decentralized network for emerging peer-to-peer economies.

Developers can now use Dtravel’s agent to add booking functionality to applications, ultimately creating a new wave of decentralized vacation rental experiences. This move is part of Fetch.ai’s effort to get AI agent technology adopted.

“We are excited to welcome Dtravel to the Fetch.ai ecosystem. Together, we are bringing the travel industry one step closer to a completely decentralized, ‘AI-powered’ future,” said Maria Minaricova, Director of Business Development at Fetch.ai.

This integration is designed to speed the adoption of AI in travel and advance a more generalized decentralized ecosystem.

“This marks the beginning of a new era for the travel sector, where the possibilities for innovation are endless,” Minaricova added.

FET Still 2.66% Down in 24 Hours

Despite the buzz around the partnership, Fetch.ai’s token (FET) has experienced downward momentum in current trading.

On October 18, 2024, the price of the token was around $1.40, down 0.63% in 24 hours (according to market data, see chart). While this value is decreasing, it does so amid general market volatility.

However, the future outlook for FET looks bright, especially since the new partnership is in effect. With a market cap of $3.52 billion and a circulating supply of 2.52 billion FET tokens, Fetch.ai is ranked 30.

The bearish immediate price action is a good sign. Market analysts believe the Fetch.ai partnership with Dtravel may hold for something more if it results in wider adoption of Fetch.ai’s decentralized AI agents within the travel industry.

FET Technical Analysis: Rising Wedge Pattern

From a technical standpoint, the rising wedge pattern that FET has recently seen on the 4-hour chart suggests possible downside risk. This was a breakdown pattern, which is frequently a precursor to price corrections.

The price now trades at its current level of $1.40, with immediate resistance at $1.45 and support around the $1.35 level.

The bearish crossover shows the Moving Average Convergence Divergence (MACD) has been indicating a sell. This downturn momentum may persist at least in the near term.

Analysts have set a target close to $1.25 on the wedge formation, which aligns with the broader market sentiment. The technical indicators hint at short-term bearishness.

However, the long-term fundamentals surrounding Fetch.ai, especially with this new partnership, could lead to a recovery, especially if it is linked to the widespread adoption of Fetch.ai in the travel sector.

Working with Dtravel is an audacious step in enabling AI technology and the travel industry. FET’s price has taken a hit in the short term. But there is still a lot of long-term potential behind their partnership.

Continuing its bull run, FET price action will be closely monitored by analysts to find whether the technical downturn is significant and will persist or if the fundamentals of this new partnership will help push the token into another bullish phase.

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