Artificial Superintelligence Alliance

Token

<p>The post <a href="https://coinpedia.org/news/nvidias-earnings-release-a-catalyst-for-fet-price-and-ai-token-surge/">Nvidia’s Earnings Release: A Catalyst for FET Price and AI Token Surge?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ahead of second-quarter revenue results for the so-called ‘most important company in the world’ Nvidia (NASDAQ: NVDA) layer today, crypto projects focused on AI development—led by the Artificial Superintelligence Alliance (FET)—have attracted significant attention from investors. </p> 
<p>Furthermore, Nvidia’s quarterly earnings have impacted AI-related crypto projects positively in the past despite not being affiliated with the company.</p> 
<h2 class="wp-block-heading" id="h-fet-price-well-primed-for-further-bull-run">FET Price Well Primed for Further Bull Run</h2> 
<p>In the past weeks, the FET price has significantly rebounded from the August 5 crypto crash. From a technical standpoint, the FET price against the US dollar has already broken out of a falling logarithmic trend. Additionally, the altcoin has consistently closed above the 50 Moving Average (MA) daily, suggesting the bulls are gradually regaining control.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdn63mvS6hzdw0o8CtMSzTiraTXp5QYH45vY-LQ2aqqgD9zjZledytLUY8p5UxwwhvqAsErAInBfae3D5rH9S0aW9JyZzf27mdgAD948yhEyUBh_iHn5cQByaxOw_rWILztE2HvphqAQZEo2MQJ3lHjlzo?key=-LoFv8E5-J457O_6bZMnOw" alt="">
</figure> 
<p>However, the FET price could retrace from the current levels to retest the support level around $1 before rebounding towards a new all-time high. Furthermore, the daily Relative Strength Index (RSI) has been rejected at the 70 percent level and could retrace towards 50 percent again.</p> 
<h2 class="wp-block-heading" id="h-growing-ecosystem-nbsp">Growing Ecosystem&nbsp;</h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">ASI Alliance CEO and <a href="https://twitter.com/SingularityNET?ref_src=twsrc%5Etfw">@SingularityNET</a> CEO &amp; Chief Scientist <a href="https://twitter.com/bengoertzel?ref_src=twsrc%5Etfw">@bengoertzel</a> joined <a href="https://twitter.com/mattzahab?ref_src=twsrc%5Etfw">@mattzahab</a> on the <a href="https://twitter.com/cryptonews?ref_src=twsrc%5Etfw">@cryptonews</a> podcast to discuss The future of AI &amp; Blockchain, The history and future of AI &amp; How AI and blockchain work together ! <a href="https://t.co/zaXWetVymq">https://t.co/zaXWetVymq</a></p>— Artificial Superintelligence Alliance (@ASI_Alliance) <a href="https://twitter.com/ASI_Alliance/status/1828498367686779140?ref_src=twsrc%5Etfw">August 27, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The intersection between AI and blockchain has helped FET grow to a mid-cap altcoin project, with a fully diluted valuation of about $3.3 billion and a daily average trade of about $368 million.</p> 
<p>Already, Fetch.ai has been working with top projects, including Gemini, Meta, OpenAI, and Twilio.</p> 
<h2 class="wp-block-heading" id="h-bigger-market-picture">Bigger Market Picture</h2> 
<p>The bull case scenario for FET price will significantly be determined by the timings of the highly anticipated altcoin season. From a technical standpoint, the next bull case of the altseason will be triggered by the reversal of the weekly Bitcoin dominance.&nbsp;</p> 
<p>Additionally, reversing the ETH/BTC pair will accelerate the crypto cash rotation to the altcoin space from Bitcoin. In the meantime, it is prudent to consider the upcoming US elections and anticipated interest rate cut next month as high-impact news that could trigger heightened crypto volatility.</p>

Nvidia’s Earnings Release: A Catalyst for FET Price and AI Token Surge?

Table of Contents

CoinPedia News

Other articles published on Aug 28, 2024

Risk Management Strategies: Balancing Potential Gains and Losses

WazirX Faces Bankruptcy and Debt Restructuring

TON Network Resumes Block Production After Seven-Hour Outage

Exclusive Breaking News: Major Binance Rumors Surface—A New Listing Could Be on the Horizon!

Indian Authorities Arrest Man for Kidnapping Linked to $2.4B BitConnect Scam

Donald Trump Announces New Crypto Project "The DeFiant Ones," Aims to Serve Unbanked Communities

Join our free newsletter for daily crypto updates!