Altcoins
As Fetch.ai Price Explodes, These 3 Altcoins Could Surge 10x This Year
Last updated: October 19, 2023 at 12:03 p.m. EDT | 6 minutes of reading
As the dark crypto winter continues to dissipate, the FET token saw a whopping +525% gain. What’s going on with the best altcoin Fetch Ai?
The brainchild of Cambridge-based AI entrepreneur Humayun Sheikh, Fetch AI aims to create an ecosystem for the design and deployment of AI “agents” (bots).
Innovation has long been at the wheel. This project enabled AI art in 2021 – before it was cool. But this is just one use case of the Rockstar project.
With the simple goal of becoming the premier launchpad for commercial AI automated agent systems.
Fetch AI has gone from strength to strength. Deep parking integrations with You’re here to partnerships with Western Ham United.
But after a rough 2022 for FET price action, the internet has finally caught up. The AI buzz train has left the station – with the rise of ChatGPT and Google’s recent announcement of BART.
Fetch AI (FET) Price Analysis
FET is currently at a high level with a trading price of $0.54 at the time of writing.
The last time FET saw this level was in April 2022, before a long, slow hemorrhage throughout last year. The downward price action finally bottomed out after FTX crashed in November ($0.05).
Attempts to save this promising project from capitulation saw little movement throughout December. Bollinger Bands tightened at the start of the new year as prices battled continued pressure from lower sellers.
By the turn of 2023, FET had returned to support at a more comfortable support level between $0.08 and $0.10.
But Bitcoin (BTC) macroeconomic sentiment and the increasingly dovish Fed have fired up markets.
January saw the start of this rally, modest at first as it followed the movements of BTC. But Fetch AI has quickly gained ground on the axis of blockchain and AI technologies. The FET shows +228% at the end of the month.
In early February, the rally turned into a surge, as the Bollinger Bands widened and experienced explosive volatility. Price action broke away from support at the 200-day moving average and embarked on an upward price exploration.
And the pounding green candles just kept landing. FET is up 40% so far this week alone – a full recovery from 2021’s lower support levels.
Local support now sits well above the 200-day MA, with support levels between $0.25 and $0.30.
With such rally momentum, there is good upside potential for FET. An upward push would likely result in a breakout to $0.75.
Moving $0.75 from resistance to support would position FET in line with the 2021-style bullish chart structure. A solid base to test at a new ATH above $1.
This week, huge candles pushed even bigger moves for FET. This did not go unnoticed on the RSI 14 indicator.
It currently reads a high score of 77 – a classic RSI overbought bearish signal. This indicator came close to overheating during the most recent move.
Yet during the January rally, FET’s RSI overheated to similar levels, rising to $0.20. This did not cause a decline.
But it instead gave way to a 14-day period of consolidation at our local support level ($0.25 – $0.30).
Thus, one could read that the RSI signals the demand for a cooling-off period of consolidation before bullish momentum resumes.
The MACD for FET is also unusually high at 0.0133. This is bullish, signaling breakout territory and extreme momentum due to immediate buying pressure.
Forecasts suggest that FET wants to consolidate and solidify the gains from the rally. This could involve a retracement to test our local support level at $0.30. Still, upside pressure remains high – and skyrocketing volatility is difficult to predict – a rise to $0.75 is likely.
A rise to $0.75 would result in a +40% gain from here. A decline to local support at $0.30 would result in a -44% loss. With a risk:reward of 0.9, current price action carries greater downside risk.
What other altcoins could grow 10x in 2023?
Meta Masters Guild ($MEMAG) – presale almost over
Meta Masters Guild is a decentralized GameFi ecosystem that aims to provide high-quality mobile games integrated into the blockchain.
The ecosystem has a single native currency, the Meta Masters Guild token ($MEMAG), which will be used in all MMG games and players will be able to earn rewards in the form of gems, which can be converted to $MEMAG.
The system incentivizes players to invest their time and money in the ecosystem for fair remuneration. MMG prioritizes fun, sustainable gameplay over profit-maximizing economics and introduces Play and Earn (P&E) gaming to the Web3 crypto gaming space.
Players truly own the game assets, and the ecosystem places a strong emphasis on community engagement with the native $MEMAG token set to control governance. MEMAG addresses the challenges of the gaming industry by creating a decentralized and equitable ecosystem that puts players first.
The first game, Meta Kart Racers, is expected to launch soon, and many more are in the works like Raid NFT!
Visit the Metamasters Guild here
Fight Out ($FGHT) – Pre-sale ending soon
Are you looking for a way to gain access to the foundations of the future of sport? Fight The FGHT token is your answer. With a unique combination of technology, community and value, this token is poised to disrupt the world of traditional exercise and revolutionize the way individuals interact with their fitness!
Fight Out is a fitness app and M2E gym chain that gamifies fitness by rewarding users for completing workouts and challenges, growing the community, and developing their avatars. The platform tracks real workouts to improve the statistics of the user’s avatar.
Fight Out aims to introduce Web2’s mass audience to the Metaverse and M2E on Web3 using user-friendly technology and socially engaging digital avatars. The platform offers workout classes, on-demand sessions, and personal routines.
Users earn $REPS, an in-app off-chain currency, for healthy activity and can redeem $REPS for items in the Fight Out Store, discounts and in-person perks. $FGHT is the native in-app utility token that can be used to purchase more $REPS and access elite benefits.
competition to win $250,000and secure your place in the next big thing in exercise.
Charge C+ ($CCHG)
C+Charge is a cutting-edge cryptocurrency startup revolutionizing how the carbon credit industry works. With the carbon credits industry estimated to be worth $2.4 trillion by 2027, C+Charge is perfectly positioned to take advantage of this massive growth.
The company is building a blockchain-based P2P payment system for electric vehicle charging stations, allowing electric vehicle drivers to earn carbon credits and enjoy the benefits of this thriving industry.
join the C+Charge revolution today!