FET current price is 1.48
September 20 Driven by the Artificial Intelligence (AI) Super Alliance, the Fetch.ai (FET) token has performed strongly recently, with the price soaring to $1.54 on September 19, up approximately 15% in 24 hours. The main reasons behind this include the continued heating up of the AI narrative, the strong performance of Nvidia stock, and the rise of the FET token ahead of an important governance vote.
Several key factors drive FET growth:
Driven by the concept of artificial intelligence: With the rise of artificial intelligence projects and the strong performance of the stocks of technology giants such as Nvidia, AI-focused tokens will show significant growth in 2024, and FET will be driven higher by this.
Expectations for the governance vote: The vote opened on September 19 will decide whether Cudos will join the AI Super Alliance (ASI Alliance). This proposal may provide new impetus for the future development of FET, which provides support for the rise of FET in the short term.
Technical analysis supports bullish expectations: FET broke a months-long downtrend and formed an inverted head and shoulders pattern. Technically, if FET breaks through the key resistance level, it may rise further to the range of $1.90-$2.30, indicating that the currency has greater room to rise.
The rise of FET is not only due to the strong performance of the overall AI industry, but also supported by favorable technical analysis. As AI projects and related governance continue to advance, FET has significant future potential. Despite the significant price gains so far, technical patterns and market sentiment suggest there is room for continued gains, and investors can hold on to support levels and await the possibility of higher prices.
