In the volatile world of cryptocurrencies, Fetch.AI (FET) appears to be facing a moment of truth. After shining in the firmament in March 2023, the star of artificial intelligence today seems to be finding its direction, raising questions and speculation about its future.
Fetch.ai down: Boredom wins over investors
The month of March was the scene of unprecedented agitation around cryptocurrencies linked to artificial intelligence (AI)driven by the approach of Nvidia GTC 2024 conference. The sensational announcement of the Artificial SuperIntelligence (ASI) project, supported by heavyweights like Fetch.ai, SingularityNET and Ocean Protocol, was a major catalyst. AGIX, OCEAN and especially FET have thus benefited from unprecedented enthusiasm, propelled by these favorable winds.
“ The Fetch.ai price consolidation awaits a bullish trigger, but prevailing investor sentiment suggests an opposite outcome. What’s next for $FET? »
THE Fetch.ai (FET) appears to be stuck in a lateral torpor, marking time for more than a month, analyzes BeInCrypto. As eyes turn to the horizon, uncertainty reigns as to the direction its course will take: a vigorous bounce or a dizzying fall?
Investors, for their part, seem to be gradually losing interest in the fate of Fetch.ai. L'lack of movement in its course portends prolonged stagnation. Investors' habit of shaking up the calm waters of the markets seems not to apply to FET at the moment. The massive withdrawal is proof of this.
The indicators do not lie: the decrease in the number of active addresses on the network reflects a waning interest in the project. Even network growth is slowing, suggesting a decline in market traction.
This lethargy is also reflected in the number of active investors participating in the network, which is decreasing day by day. The prevailing pessimism seems to take precedence over any ounce of optimism.
As active addresses decline, volatility crumbles, leaving Fetch.ai at the mercy of consolidation or imminent collapse.
The FET course: an epic journey in search of direction
At $2.54, Fetch.ai appears to be sailing through the choppy waters of resistance at $2.85. A difficult milestone to overcome, having only been reached once in the last three months. In this dance betweenupward aspiration and the gravity of consolidation, investors are keeping their distance.
The relative strength index (RSI) itself, this beacon in the night of stock market variations, points south, below the neutral line at 50.0. A sign that FET struggles to find his breaththus exposing themselves to the coldness of consolidation.
However, if FET breaks the support at $2.40 or goes above $2.85, everything could change. A revolution would be looming, either an outburst or a setback.
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