The cryptocurrency market has displayed a constant uptrend in valuation over the past week. This has resulted in top tokens successfully breaking out of their important resistance levels.
Following in their footsteps, the Artificial Intelligence (AI) tokens have recorded a similar price action with many tokens adding significant value to their respective portfolios.
After trading under a bearish sentiment for a brief period, the FET price has recorded a surge of over 80% during this period. With this, questions like “How high will the FET price go?” and “Will FET reclaim $2?” are on a constant rise. Scroll down to uncover the price analysis and potential targets of this sensational altcoin.
FET Coin Price On The Verge Of A Major Bullish Reversal:
The Artificial Superintelligence Alliance price has displayed a strong bullish action over the past few days. Moreover, the altcoin is on the verge of testing its resistance trendline of the falling channel pattern. The outcome of which is uncertain.
Notably, the FET price has jumped 7.64% within the past day with a trading volume of $285.87 Million. Furthermore, it has added 87.53% in the past week and has a YTD return of 81.79%. With a market cap of $3.339 Billion, it has secured the position of the 3rd largest AI token.
The Moving Average Convergence Divergence (MACD) has displayed a constant uptrend in its FET price chart. Further, its averages display a bullish price trend. This suggests that the price will continue gaining value in the coming time.
Further, the SMA indicator constantly supports the price chart in the 1D time frame, suggesting a positive outlook for the altcoin.
Will FET Price Hit $2 Soon?
Suppose, the bulls break out of the resistance trendline, in that case, the FET price will test its upper high of $1.650. Maintaining the price at that level will set the stage for this altcoin to head toward its upper high of $2.230 in the coming time.
On the flip side, if the bears outrun the bulls, the Artificial Superintelligence Alliance price will plunge toward its support level of $1 during the upcoming weeks.
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