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Artificial Superintelligence Alliance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-anticipate-fetch-ai-price-correction/" data-wpel-link="internal">Investors Anticipate Fetch.ai Price Correction</a><br></p>
<p style="text-align: justify"><strong>Fetch.ai (FET)</strong> <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> is close to a correction due to potential investor sell-offs. Additionally, the <a href="https://en.coin-turk.com/what-is-magic-magic-coin/" data-wpel-link="internal">altcoin</a> FET is sensitive to the death cross formation, which could drop it to $1.7. Analysts believe Fetch.ai’s price is close to a decline due to decreasing investor support.</p> 
<h2 id="critical-formation-in-fet">Critical Formation in FET</h2> 
<p style="text-align: justify">Network growth has fallen to a seven-month low following the recent rally. Network growth is used to assess a project’s strength in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> and is calculated by the rate of new address formation. A similar decline indicates that potential <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> see little incentive to join the network. This is likely due to profit saturation among <strong>FET</strong> holders. According to the Historical Break Even indicator, over 97% of the supply is currently above the purchase price.</p> 
<p style="text-align: justify">The remaining 3% is allocated to loss-making investors who bought at all-time high prices. Therefore, this scenario presents a stronger sentiment of selling or profit-taking among holders. This also poses a threat to price movement as mass dumping could lead to a correction. <strong>Fetch.ai’s</strong> price saw a 12.7% decline within a week, and the altcoin remained at $2.08, close to the $1.96 support level. Increasing bearish sentiment among investors could push it below this support.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-351425 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/fet.jpg" alt="" width="852" height="288"></p> 
<h2 id="price-prediction-for-fet">Price Prediction for FET</h2> 
<p style="text-align: justify">Additionally, the <strong>altcoin</strong> could be vulnerable to the death cross. The death cross occurs when the short-term 50-day exponential moving average (EMA) crosses below the long-term 200-day EMA, indicating a potential downtrend. This formation could drop FET to $1.71. On the other hand, the $1.96 support has been tested several times recently but has not broken below. If this level holds, Fetch.ai’s price could recover and push FET to $2.26. Breaking and turning this level into support could enable a rise to $2.46 and above, invalidating the bearish thesis.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-anticipate-fetch-ai-price-correction/" data-wpel-link="internal">Investors Anticipate Fetch.ai Price Correction</a></h5>

Investors Anticipate Fetch.ai Price Correction

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