FET Token Price Surges 37% Amid AI Narrative Resurgence

FET, the native token of the Fetch.ai network, has recently demonstrated a strong recovery, breaking out from a key support level. This development has garnered significant attention from investors and analysts, who are now considering the potential for a substantial upside move. The token's price has been on an upward trajectory, with buyers actively supporting the rally. According to the analysts' forecast, a move past the $0.92 resistance level could pave the way toward $1.11, offering a potential 37% upside. This bullish sentiment is further bolstered by the resurgence of AI narratives in the crypto space, which has historically driven interest and investment in FET.

FET is currently approaching a confluence of resistance levels, situated between $0.92 and $0.98. This area includes previous swing highs, the upper boundary of a descending wedge, and aligns with the 50-day moving average. A decisive move above this zone would mark a significant shift in short-term market structure. Supporting momentum indicators, such as the Stochastic RSI and MACD, are beginning to rise, indicating that buying pressure is building. On the 4-hour chart, FET is forming an ascending triangle, a bullish continuation pattern. Should the price exceed the $1.00 psychological level with a strong surge in volume, price targets between $1.15 and $1.25 could come into play, based on prior resistance from earlier this year.

The 8-hour chart shows that FET recently completed a breakout from a falling wedge pattern, a formation typically associated with reversals or trend continuations. The breakout occurred near a horizontal resistance block between $0.70 and $0.72, an area that previously acted as both support and resistance. The projected upside from this pattern suggests a 42.87% move, which aligns with the $1.00 price level. This technical development indicates a shift in market behavior. Sustained trading above the resistance block would support a continuation of the upward trend. However, the breakout still requires confirmation through increased trading volume and follow-through price action to validate its strength.

Recent on-chain data shows heightened activity among large FET holders, particularly in the $0.85–$0.90 price range. This trend points to potential accumulation by whales, which could catalyze upward momentum if broader market conditions remain favorable. FET’s Z-Score currently sits at -0.41, indicating that the asset is trading below its historical average and may be undervalued. Short-term moving averages (7, 30, and 50) remain below the 200-day average, maintaining a neutral to bearish outlook. A break above $0.74 and a positive shift in the Z-Score would further reinforce a bullish setup.

The recent price action of FET has been characterized by a strong bounce from its support level, indicating that buyers are confident in the token's potential. This recovery has been driven by a combination of factors, including the growing interest in AI and the broader crypto market's bullish sentiment. As FET continues to march toward its key resistance zone, investors are closely watching for any signs of a breakout, which could trigger further gains. The potential for a strong upside move in FET is supported by several technical indicators. The token's price has stabilized in its current support area, which can often trigger a price spike. Additionally, the broader crypto market's bullish sentiment is providing a favorable environment for FET's recovery. As AI narratives return to the forefront of crypto hype, FET's unique position as a decentralized machine learning network could drive further interest and investment.

However, it is important to note that the crypto market is highly volatile, and there are always risks associated with investing in digital assets. While the current price action of FET is encouraging, investors should remain cautious and conduct thorough research before making any investment decisions. The potential for a strong upside move in FET is supported by several technical indicators, but it is ultimately up to the market to determine the token's future price action.