A popular cryptocurrency analyst predicts that a prominent artificial intelligence project is set to experience a significant surge in value soon, while also sharing insights on two smart contract platforms.
During a recent strategy session, cryptocurrency trader Altcoin Sherpa informed his 223,600 followers on the social media platform X that Fetch.AI (FET), a machine learning platform associated with the Artificial Superintelligence Alliance, is on the verge of a rally.
“FET is poised for a breakout soon, in my opinion.”
According to the trader’s chart analysis, FET is expected to reach a price point of approximately $1.50. As of the latest update, FET is trading at $1.53, marking a surge of over 15% in the last 24 hours.
Shifting focus to the smart contract platform Sui Network (SUI), Sherpa mentioned that the altcoin’s chart pattern is showing signs of consolidation, which is typically a positive indicator for potential investors.
“Even in highly bullish market conditions, it’s advisable to wait for a dip or consolidation phase before making a purchase. Observing the price action on assets like SUI is crucial; a brief pause before an upward movement is ideal.”
Currently, SUI is trading at $1.33, reflecting a 13.35% increase for the day.
The trader also discussed the layer-2 scaling solution Fantom (FTM), highlighting an imminent “clean market structure break.” Sherpa outlined two potential strategies for traders in such scenarios.
“Clear market structure breaks are evident in assets like FTM. Traders can either enter early, risking potential shakeouts or drawdowns, or wait for confirmation of the trend but potentially miss out on the initial price movement.”
At present, FTM is trading at $0.64, showing a 13.4% gain for the day.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook, and Telegram
Surf The Daily Hodl Mix
Featured Image: Shutterstock/Digital Store/KWstudio
