đđ„ Nvidia to Unveil Financial Results: A Catalyst for FET and AI Token Price Surge! đ„đ
The so-called âworldâs most valuable company,â Nvidia (NASDAQ: NVDA), due today for its second-quarter results, is getting all the attention. Crypto projects focused on AI developmentâled by the Artificial Superintelligence Alliance ($FET )âare capturing massive investor attention.
đ And this is not the first time! Nvidia's quarterly results have already had a positive impact on AI-related crypto projects, even without being directly affiliated with the company.
đž FET Price Well Positioned for New Bull Run
Since the crypto crash on August 5, FET price has rebounded significantly. From a technical perspective, FET price against the dollar has already broken a descending logarithmic trend. Moreover, the altcoin has consistently closed above the 50-day Moving Average (MA), suggesting that bulls are gradually regaining control.
However, FET price could see a retracement towards the support level around $1 before moving towards a new all-time high. Moreover, the daily Relative Strength Index (RSI) was rejected at the 70% level and could retrace again towards 50%.
đž A growing ecosystem
đŹ ASI Alliance CEO and SingularityNET CEO & Chief Scientist Ben Goertzel joined @mattzahab on the cryptonews podcast to discuss the future of AI and blockchain, the history and future of AI, and how AI and blockchain work together! â Artificial Superintelligence Alliance
The intersection of AI and blockchain has enabled FET to become a mid-cap altcoin project, with a diluted valuation of approximately $3.3 billion and an average daily trading volume of $368 million.
đž A market to watch closely
The bullish scenario for FET price will be largely determined by the long-awaited moment of the altcoin season. From a technical point of view, the next bullish signal of this season could be triggered by the reversal of Bitcoinâs weekly dominance.
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