At the current time, the AI-focused token, Artificial Superintelligence Alliance (FET), seems to be poised for a strong price increase. Especially as it forms a growth pattern on the daily timeframe.
In the past two days, FET has risen over 25%, leading to a breakout and the daily candle closing above the descending channel pattern.
According to technical analysis, FET appears bullish after the breakout. And, with strong bullish sentiment, there is a high likelihood that FET could surge 25% to reach $1.8 in the coming days.
Source: TradingView
After the breakout, FET closed its daily candle above the 200 EMA (Exponential Moving Average) on the daily timeframe, indicating an uptrend.
FET's bullish thesis will only be valid if it trades above $1.3. Otherwise, it could fail.