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.”
Source: Rekt Capital/XFET 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.”
Source: Rekt Capital/XLooking 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.
