Crypto analysts are predicting price movements for Bittensor (TAO) and Fetch.ai (FET) tokens amid signs of market recovery. TAO has established strong support at $200, with experts eyeing a potential run to four-digit prices. Meanwhile, FET is targeting the $10 mark as it approaches a critical technical breakout.
TAO Holds Strongly Above $200 Support
Crypto analyst ＤＲＥＡＤ ＢＯＮＧＯ noted a positive reaction for TAO after entering the oversold zone.
The token has established a strong support level at $200, matching the 75% drawdown from 2023. This price point is now seen as the foundation for potential future growth.
The analyst stated, “This is the level on which the next run to four digits will form.” Moreover, he expressed confidence that even if a pullback occurs, TAO is unlikely to drop below $200. This sentiment suggests a bullish outlook for the token.
TAO To $1000?
Another analyst, Johnny, shared his perspective on TAO’s potential. He revealed that he has started reaccumulating a spot bag of TAO. Johnny’s target for the token is an ambitious $1,000+ over the next few months.
Last year we accumulated $TAO below $40 and caught a 20x on itI have started reaccumulating a spot bag — looking for $1,000+ over the next few monthsA leader in the AI category. Think we have bottomed. pic.twitter.com/YxyCYkOUFG
— Johnny (@CryptoGodJohn) July 16, 2024
Johnny’s optimism stems from his past success with TAO. He referenced a return on investment from the previous year when TAO’s price was much lower.
This track record lends credibility to his current prediction. Johnny also emphasized TAO’s prominent position in the AI category, further supporting his bullish outlook on the token.
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Show more +Show less – FET Targets $10 Amid Technical Breakout
Attention has also turned to FET, with multiple analysts eyeing a potential price surge. Bandhan Sharma pointed out a falling wedge pattern on FET’s chart. A breakout from this pattern could pave the way for a move towards $10.
Supporting this view, crypto analyst Bishara confidently stated,
“$FET is targeting $10 next stop.” Bishara described this as “one of the easiest bets this cycle,” reflecting growing bullish sentiment around FET.
Read also: Worldcoin’s WLD Crypto Price Pumping: Here’s Why
Technical Analysis Supports Bullish Outlook
Analyst Posty provided additional technical insight on FET’s price action.
Posty noted that FET is “looking much better here, especially with a potential break of the falling wedge.”
However, he cautioned against premature excitement, emphasizing the importance of reclaiming the $1.75 level.
Posty’s analysis highlights the need for careful consideration of key price levels. He admitted to feeling “a little bit of PTSD from the last few weeks,” highlighting the nature of crypto markets.
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The post Bittensor and Fetch.ai Price Prediction: TAO Eyes Four-Digit Surge, FET Targets $10 Amid Breakout appeared first on CaptainAltcoin.
