AI Crypto Hype Train? Fetch.ai (FET) Shows Signs of a Price Reversal

• Fetch.ai (FET) sees a price jump as AI-driven platforms gain investor confidence.
• FET’s 27% trading volume increase and strong fundamentals could boost price.
• The altcoin is testing the key support range; rebound possible above $0.69-$0.81.

Despite the overall market downturn, with Bitcoin momentarily dipping to $94K, some altcoins prepare for a potential rally and have posted solid gains. One such altcoin is Fetch.ai (FET). Even though Fetch.ai offers a technological advantage and practical use cases, its market cap has yet to match its potential. 

But that could change soon. FET has seen a 27% increase in trading volume and its price has surged over 5%, hitting $0.80. 

On-chain data shows a major jump in activity, with FET’s active addresses increasing by 15% to 2,300. Moreover, Fetch.ai burned 6.5 million tokens, permanently taking them out of circulation. This supply cut could drive the price higher.

Franklin Templeton, the global investment firm, disclosed AI agents could reshape the digital economy, hinting at AI-powered entities to transform social media by creating content and engaging with audiences just as human influencers. AI-focused cryptocurrencies recorded price gain after this report, with FET, in this case, surging 7%.

FET Price Prediction: What’s Next?

Analyst Ali Martinez posted on X that FET is testing a key support range between $0.69 and $0.81. If it holds above this level, a strong rebound appears likely.

The price is expected to maintain its upward momentum if it remains within $0.52 to $0.75. A break below the $0.52 level could shift the probabilities towards a more bearish outlook, with the next support zone coming into play around $0.44.

At present, the price retreated from recent highs, testing support between $0.65 and $0.76. With short-term support at $0.65, a break there might push the price toward the recent low of $0.60 and trigger further tests at lower levels. To confirm a bullish turnaround, FET must overcome resistance at $0.79 and $0.82.