Will This Bullish Pattern Push the FET Price to $2?
With a $3.544 billion market cap, Artificial Superintelligence, or FET, maintains a significant dominance in the crypto-AI segment. The FET price is currently trading at $1.41, with an 8.21% rise in the past 24 hours.
Over the last seven days, like the DeFi tokens, the AI crypto tokens have been rising, and the FET token price has registered a weekly jump of 25.11%.
FET Token Price Performance
Last week, despite Bitcoin’s rocky road before the release of CPI data, FET price maintained its ground, with a then jump of 20%.
Currently, the AI token price reveals a falling channel pattern in the daily chart, revealing a massive trend reversal.
Starting from the $1 psychological mark, the recent bull cycle accounts for a 32.54% jump over the last five days, with an intraday jump of 3.62%
Hence, the FET token price is on its way to making its 5th consecutive bullish candle.
Furthermore, in the shorter term, the FET price makes an inverted head and shoulder pattern.
With the 200-day EMA acting as the neckline, the buyers are on the verge of breaking the pattern.
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