A widely respected cryptocurrency analyst has said that one artificial intelligence (AI) altcoin project could soon reach a new all-time high (ATH).
Pseudonymous cryptocurrency trader Rekt Capital says 377,500 followers on social media platform
“FET performed a picture-perfect retest of the purple level as support this week.
We are trying to overcome the red resistance once again.
It’s very close to challenging for a new all-time high.
All you have to do is break this red resistance and flip it over to create support.”
Looking at the strategist’s chart, Rekt Capital shows that FET has successfully retested the key level of $0.59 and would need to turn the price level around $0.73 into support to reach a new ATH.
In September 2021, FET reached an all-time high of $1.17. At the time of writing, FET is trading at $0.77, up 10.6% in the last 24 hours.
Next is the merchant predict Based on past price patterns, Bitcoin (BTC) will not rise above $46,000 until 2024.
“Bitcoin has never broken the 4-year resistance (black) before the halving (3rd candle). However, in the new candle 4 (2024), Bitcoin will comfortably break $46,000.”
At the time of writing, Bitcoin is trading at $43,939, up 3.5% in the last 24 hours.
Finally, the merchant note Excluding the top 10 digital assets by market capitalization, overall cryptocurrency market capitalization is still retesting core levels of decline.
“Altcoin market cap retest is still in progress.”
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