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Artificial Intelligence

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The Artificial Intelligence (AI) sector in the crypto space has enjoyed one of the most prominent rallies despite the debacle with OpenAI. The company behind ChatGPT fired one of its founders and CEO, Sam Altman, sparkling downside pressure for AI-based tokens, such as FET. 
The native token for Fetch.ai, FET, has been trending to the upside following the general market sentiment. Over the past month, the cryptocurrency recorded a 160% rally, and it’s poised for further profits as it breaches critical resistance levels. 
<img loading="lazy" decoding="async" class="wp-image-561621 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price-1.png?w=860&amp;resize=860%2C410" alt="OpenAI FET FETUSDT FET price" width="860" height="410" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price-1.png?w=1759 1759w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price-1.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price-1.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price-1.png?w=860&amp;resize=860%2C410 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price-1.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price-1.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price-1.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<h2 id="openai-controversy-adds-fuel-for-fet-s-rally">OpenAI Controversy Adds Fuel For FET’s Rally</h2> 
Data from Coingecko indicates that FET’s bullish momentum took a hit last week as news about Sam Altman leaving OpenAI broke. The token has been moving with any development from the broader AI sector, and the uncertainty surrounding this company has impacted its performance on low timeframes. 
Over the weekend, FET regained its bullish momentum and reclaimed territory, extending a more significant rally. In that sense, a pseudonym trader looked into FET’s potential target as the cryptocurrency continues “its rally without a dip.” 
In the past week, FET breached the resistance at $0.56, targeting its 2022 highs, as seen in the chart below. If the bullish momentum continues, the token could rise to its 2021 highs between $0.70 and $0.90. 
<img loading="lazy" decoding="async" class="wp-image-561607 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price.png?w=860&amp;resize=860%2C610" alt="OpenAI FET FETUSDT FET price" width="860" height="610" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price.png?w=1786 1786w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price.png?w=860&amp;resize=860%2C610 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price.png?w=120 120w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/OpenAI-FET-FETUSDT-FET-price.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<h2 id="fet-rally-could-end-in-massive-correction">FET Rally Could End In Massive Correction</h2> 
Our Editorial Director and analyst, Tony Spilotro, has been bullish on FET’s trajectory. The analyst believes FET could rise 2x to 4x before losing steam and re-visiting support. 
In the past, whenever the token followed a similar trajectory, printing a buy signal above the monthly Bollinger Band, as Spilotro stated, FET corrected by an impressive 80%. Thus, the analyst recommended new investors to tread carefully. Spilotro <a href="https://t.me/TonyTradesBTC/11846" target="_blank" rel="noopener nofollow">said</a>: 
<blockquote>
 (…) its safe more than likely to buy FET at such levels, so long as you have a plan to get out before the next 70+% correction happens. Otherwise, price could retrace back to your entry here. Be smart and don’t expect the rally to go on forever.
</blockquote> 
Today, Microsoft <a href="https://twitter.com/satyanadella/status/1726509045803336122" target="_blank" rel="noopener nofollow">announced</a> the hiring of Sam Altman to spearhead a new AI division. The company will commit to providing resources for the new division, which could ignite a new bull era for AI and AI-based tokens. 
Cover image from Unsplash, chart from Tradingview

OpenAI Setback No Match For FET’s 160% Surge: Time To Invest In AI?

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