Can FET Investors Expect Another 50% Price Surge?

Crypto News- Fetch.ai (FET) has made a significant move in the past 24 hours, recording a notable gain of 13.50%. This surge in value has firmly established FET as one of the standout performers in the world of cryptocurrencies for the month of October. While Bitcoin (BTC) has been making impressive gains, it’s important to note that FET’s performance isn’t solely tethered to Bitcoin’s movements. Several positive developments within the Artificial Intelligence (AI) sector have significantly contributed to FET’s recent price appreciation.

Can FET Investors Expect Another 50% Price Surge?

One pivotal catalyst for FET’s recent growth has been the unveiling of DeltaV, an open platform designed to usher in the new AI economy, introduced by Fetch.ai earlier in the month. This development has triggered a noticeable increase in adoption and overall growth within the Fetch.ai network.

FET’s ascent began after breaking out of a supply zone following the establishment of strong support at $0.22. This transition effectively set the stage for an upward trajectory for the AI token. Although the price briefly encountered resistance at $0.30, bullish momentum promptly overcame this hurdle.

Presently, the bears are struggling to exert any significant influence over the market. As long as the support level at $0.28 remains intact, FET retains the potential for further appreciation in value. Additionally, the Relative Strength Index (RSI) is displaying a northward inclination, reaching as high as 70.52. This suggests the possibility of sustained momentum for FET.

In an exceedingly bullish scenario, FET could potentially surge past the $0.40 mark. However, achieving this would necessitate a considerable increase in buying pressure. The presence of escalating volatility, as evidenced by the Bollinger Bands (BB), indicates that FET may be on the brink of a substantial upward movement. Furthermore, two other indicators, the Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD), lend further support to the potential for an upward swing.