Artificial Superintelligence Alliance

bullish

Captain

Time

<p>Artificial Superintelligence Alliance (<a href="https://www.thecoinrepublic.com/price-prediction/artificial-superintelligence-alliance/">FET</a>), a blockchain-based platform democratizing access to artificial intelligence, has gained immense bullishness this week.</p> 
<p>Fueled by the rising demand and new developments, the <strong>FET price</strong> continued to extend the gains and registered a breakout.</p> 
<p>The token registered a range breakout last week. It was followed by a double-bottom formation and a significant rebound from the demand zone of $0.760.</p> 
<p>Afterward, it continued to gain traction and crossed the declining trendline of $1, which trapped the bear cartel.</p> 
<h2 class="wp-block-heading" id="h-what-fueled-the-fet-price-breakout"><strong>What Fueled the FET Price Breakout?</strong></h2> 
<p>A member of the Artificial Superintelligence Alliance disclosed the FET Innovation Lab on Aug 23. It pointed out that this hub will trigger the creation of AI Agent solutions.</p> 
<p>To support this pursuit, this platform has recently developed ways to increase its impact in every aspect of the industry.</p> 
<p>It revealed an annual budget of $10 Million to invest in projects that will deploy the company technology stack to develop AI agents.</p> 
<p>Along with this significant development growth, rising demand fueled the price surge. Over the weekend, most AI-based crypto tokens gained bullish momentum and stepped upwards, extending their gains.</p> 
<h2 class="wp-block-heading" id="h-the-fet-price-at-press-time"><strong>The FET Price at Press Time</strong></h2> 
<p>Over the past 24 hours, the <strong>FET price</strong> has surged by over 22%. In contrast, its trading volume spiked over 38%, underlying the rising investors’ optimism. The token changed hands at $1.30 and set the eyesight to reach the $2 mark in the next sessions.</p> 
<p>With a market cap of $3.29 Billion, the token was ranked 31 and had a total supply value of 2.63 Billion.</p> 
<h2 class="wp-block-heading" id="h-is-fet-poised-to-catch-2-mark-price-action-analysis"><strong>Is FET Poised to Catch $2 Mark: Price Action Analysis</strong></h2> 
<p>The FET token has encountered a massive pullback from the bottom mark of $0.800 on the daily chart. It recovered more than 55% this week.</p> <iframe loading="lazy" title="Santiment Chart: Price (FET), Volume (FET)" width="800" height="425" src="https://embed.santiment.net/chart?ps=sei&amp;pt=SEI&amp;df=2024-02-24T18%3A29%3A59.822Z&amp;dt=2024-08-24T18%3A29%3A59.822Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bartificial-superintelligence-alliance%3BFET%5D%3B%5B1%3Bvolume_usd%3Bartificial-superintelligence-alliance%3BFET%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>FET Price Chart | Source: Santiment</p> 
<p>With a continuous bullish streak and follow-on bullish momentum, the token seemed poised to reach the 50% Fib resistance near $2 shortly.</p> 
<p>Crypto Analyst, Captain Faibik, shared his technical outlook via X (formerly Twitter). The analyst highlighted that <strong>FET</strong> has bounced back from the lower trendline support of the falling channel.</p> 
<p>A falling channel breakout was on the horizon, and the token looks bullish.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24FET&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FET</a> is Bouncing back Nicely but Still Moving inside the Descending Broadening Wedge..!!<br><br>I'm Extremely Bullish on it &amp; Expecting Breakout in the coming days, so keep an eye on it. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d0.png" alt="🧐" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/FET?src=hash&amp;ref_src=twsrc%5Etfw">#FET</a> <a href="https://twitter.com/hashtag/FETUSDT?src=hash&amp;ref_src=twsrc%5Etfw">#FETUSDT</a> <a href="https://t.co/ZY354QvfR7">pic.twitter.com/ZY354QvfR7</a></p>— Captain Faibik 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f43a.png" alt="🐺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1827197386352906429?ref_src=twsrc%5Etfw">August 24, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>A Tweet by @CaptainFaibik | Source:X</p> 
<p>The Relative Strength Index (RSI) line showed a positive crossover and approached the overbought zone of 66. It signified immense buying pressure.</p> 
<p>Similarly, the CMF indicator line crossed the zero line and went upward, conveying the rise in the bullish sentiment.</p> 
<h2 class="wp-block-heading" id="h-futures-open-interest-showed-an-uptick"><strong>Futures Open Interest Showed an Uptick</strong></h2> 
<p>Along with a significant price surge of over 22%, a massive rise in Futures Open Interest of over 24% was noted.</p> 
<p>It signified an increase in the investors’ interest. It conveyed that new positions have entered and anticipated an upward movement in future prices.</p> 
<figure class="wp-block-image size-large">
 <a href="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd7Sz-JIzalVycMLTmmZVaUr03p6rIX9hjdt_l1vKQ0ryTeT25yQ4NUKggnrYl3SP642VNtimQis4VtJN68JMfF8VibSrezCbD5OgVziXzF0Jtfu-qW11QwfgLcnPe4p1-eKWH5HLzRlOrFHgiytqLvMDY?key=6yWdMFUnlWlVe2teY8r5ag" target="_blank" rel="noreferrer noopener"><img loading="lazy" decoding="async" width="1024" height="251" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/fet1-1024x251.png" alt="" class="wp-image-680780" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/fet1-1024x251.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/fet1-300x74.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/fet1-768x188.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/fet1-150x37.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/fet1-696x171.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/fet1-1068x262.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/fet1.png 1378w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
</figure> 
<p>Open Interest Data | Source: Coinglass</p> 
<p>If the token extends the green bars vertically, the token may reach the $1.70 mark soon. A new resistance may be unlocked close to&nbsp; $2.00.</p> 
<p>Conversely, suppose the token fails to ascend the gains further, it may retrace toward the 38.2% Fib retracement zone and soon retest the $1 mark.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/25/fet-targets-the-2-mark-can-bulls-push-through-amid-rising-demand/">FET Targets The $2 Mark: Can Bulls Push Through Amid Rising Demand</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

FET Targets The $2 Mark: Can Bulls Push Through Amid Rising Demand

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