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<p>The native cryptocurrency of Fetch.ai, the renowned decentralized artificial intelligence platform, FET, has surged significantly, reaching an all-time high of $3.37 earlier today. Currently, Fetch AI (FET) price is trading at $3.28, boasting a market capitalization of $2.7 billion. Its remarkable performance has secured its position among the top 50 cryptocurrencies by market capitalization.</p> 
<h3 id="fetch-ai-fet-price-rally-to-continue">Fetch AI (FET) Price Rally To Continue</h3> 
<p>The beginning of the FET price rally dates back to earlier February 2024, when it was trading at a meager $0.50. However, amid a major boost in the artificial intelligence market, <a href="https://coingape.com/blog/top-reasons-why-ai-altcoins-rallying-today/" target="_blank" rel="noopener">AI tokens</a> including Fetch AI triggered a major rally giving a staggering 500% returns in the last two months.</p> 
<p>The growth in the token is supported by substantial buying volume, as evidenced by the On-Balance Volume (OBV) indicator. Although there was a slight decline in OBV over the past two weeks, the overall buying momentum remains strong, with the Relative Strength Index (RSI) consistently above 50, indicating a sustained uptrend.</p> 
<p>Traders can utilize Fibonacci retracement levels, calculated from the <a href="https://coingape.com/singularitynet-fetch-ai-ocean-protocol-plans-to-merge-crypto-tokens/" target="_blank" rel="noopener">Fetch AI rally</a> between February and March, to identify critical points. The token demonstrated resilience by halting its pullback at $2.15, surpassing the 50% retracement level at $1.81, which reflects investors’ strong confidence in the ongoing uptrend. Extension levels at $4.74 and $5.74 present potential profit-taking opportunities that investors may currently be considering.</p> 
<p>Over the last week, the trading volume of the coin has surged by 59.0%, exhibiting an opposite trend compared to the overall circulating supply, which has declined by 0.6%. As a result, the circulating supply now stands at 1.04 billion, accounting for approximately 90.5% of its maximum supply of 1.15 billion. Based on our data, FET currently holds the #42 position in terms of market capitalization, valued at $3.51 billion.</p> 
<p><img decoding="async" class="aligncenter size-full wp-image-188606" src="https://coingape.com/wp-content/uploads/2024/03/Fetch-AI-circulating-supply.webp" alt="" width="1920" height="1024" srcset="https://coingape.com/wp-content/uploads/2024/03/Fetch-AI-circulating-supply.webp 1920w, https://coingape.com/wp-content/uploads/2024/03/Fetch-AI-circulating-supply-300x160.webp 300w, https://coingape.com/wp-content/uploads/2024/03/Fetch-AI-circulating-supply-1224x653.webp 1224w, https://coingape.com/wp-content/uploads/2024/03/Fetch-AI-circulating-supply-768x410.webp 768w, https://coingape.com/wp-content/uploads/2024/03/Fetch-AI-circulating-supply-1536x819.webp 1536w, https://coingape.com/wp-content/uploads/2024/03/Fetch-AI-circulating-supply-150x80.webp 150w" sizes="(max-width: 1920px) 100vw, 1920px"></p> 
<h3 id="fet-open-interest-points-upwards">FET Open Interest Points Upwards</h3> 
<p>The surge in trading volume and minimal pullback suggested a prevailing bullish sentiment within the 1-day timeframe. Data from <a rel="nofollow" href="https://coinalyze.net/fetch/open-interest/" target="_blank">Coinalyze</a> revealed a consistent uptrend in both Open Interest and spot CVD within the low timeframe data.</p> 
<p>This scenario reinforced the notion that speculators harbored optimistic long-term outlooks, particularly when the price surpassed $2.8 on March 26. Such trends could also be interpreted as further evidence of bullish sentiment.</p> 
<p>The post <a href="https://coingape.com/fetch-ai-fet-price-rally-to-continue-as-open-interest-points-upwards/">Fetch AI (FET) Price Rally Shall Continue As Open Interest Points Upwards</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Fetch AI (FET) Price Rally Shall Continue As Open Interest Points Upwards

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