The AI hype still seems to exist in the world of digital assets, as Fetch.ai is once again outperforming most altcoins. Just when the investors thought that the AI narrative was dead, FET crypto orchestrated a major rally.
As a result, the price of the native coin of the Fetch.ai ecosystem is up more than 100% in the last 4 weeks. However, the price of the digital asset has hit a massive supply zone which won’t be easy to break. This will also depend on the upcoming price action of Bitcoin, which is currently recovering after a rejection from $38,000.
On Wednesday, FET crypto was trading at 0.432 after rising 12% in a single day. The bullish price action was supported by a market-wide recovery in digital assets.
Technical analysis shows that the Fetch.ai price prediction has turned bullish and the bulls are targeting the yearly peak of $0.60 after breaking the bearish market structure. The invalidation of this bullish move will be a daily closure below $0.33.
