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A closely followed crypto currency analyst believes that an AI-focused altcoin could soon reach all-time high levels (ATH). The crypto currency expert made critical statements about the altcoin that has garnered all the attention with its recent rise.
Support Level for FET
Popular crypto currency analyst Rekt Capital told his followers on social media platform X that Fetch.ai (FET) could stay in an uptrend if it surpasses a significant resistance level on the monthly chart. The analyst stated the following:
A decline towards local support continues. The retest has so far been successful. Stability here continues, and FET will challenge its final major resistance for a chance to reach all-time highs. Price discovery is a matter of time.
FET closed at $0.204 on October 19, 2023, and was trading at about $0.730, a roughly 258% increase, at the time of writing. FET reached its all-time daily high of $1.17 in November 2021. Fetch.ai is a blockchain-based artificial intelligence platform aimed at automating supply chain logistics or record-keeping for individuals or organizations.
Critical Zone in Ethereum
The analyst then stated that Ethereum (ETH) could move upwards if it manages to hold the $2,274 support level, adding the following in his statements:
ETH is in the process of retesting the $2,274 level as support. A successful retest here would provide a +22% upward movement. As long as the red continues to act as support, the green path is still solid.
Looking at the investor’s monthly chart, it suggests that ETH could move towards the $2,791 level. Ethereum was trading at $2,266, up more than 2% in the last 24 hours at the time of writing. While Rekt Capital points out that the AI altcoin Fetch.ai could climb to historic peaks, he predicts that Ethereum has strong upward potential if it holds certain support levels.
