Fetch.ai (FET) has experienced price volatility following its decision to merge three AI-themed tokens into one. Despite a recent 7.3% decline, on-chain analysis suggests a unique long-term opportunity.
Merger Details and Market Analysis
The Artificial Super Intelligence (ASI) merger is underway, with over 864 million tokens already transitioning to ASI. Upon completion, these tokens will operate under a Fetch.ai-managed alliance.
Santiment data reveals that FET's 30-day MVRV ratio, which compares market value to realized value, currently stands at -34%. Historically, an MVRV ratio between -10.2% and -30% indicates a prime buying opportunity for FET. The current ratio suggests the token might be significantly undervalued.
Price Prediction and Future Outlook
Fetch.ai’s "Bulls and Bears" indicator, showing eight excess bulls, further supports the potential for a price increase. The Moving Average Convergence Divergence (MACD) also points towards a bull market, suggesting the price may be ready to climb higher.
If confirmed, FET could target $1.7, and potentially retest $1.9. However, increased selling pressure could negate this prediction, potentially pushing the price down to $1.
Fetch.ai’s future hinges on the successful completion of the ASI merger and overall crypto market trends. Despite recent fluctuations, the token presents a compelling opportunity for investors seeking long-term growth potential in the AI sector.
