- Crypto trader Rekt Capital has predicted that Artificial Intelligence coin FET could record a new all-time-high if it makes $0.73 a support level.
- The analyst has also predicted that Bitcoin may not trade above $46k this year.
A renowned crypto analyst has made a bold prediction positioning an Artificial Intelligence (AI) coin “in a place” of an upward trajectory. According to Rekt Capital, machine learning platform Fetch.ai (FET) is set to surpass its all-time high following a recent upward surge. Market data shows that FET has surged by 232% in the last three months to trade at $0.726062. On top of that, investors had a positive return of 9.9% on their weekly investment and 45.5% returns on their 30-day investment. Unfortunately, FET has recorded a decline of 2.8% in the last 24 hours despite a bullish score of 68/100.
On X, Rekt shared a chart showing FET retesting and surpassing its key support level at $0.59. According to him, the asset would have an interesting challenge of making $0.73 its next support level before reaching an all-time high price. It can be recalled that the asset hit its peak of $1.17 in September 2021. Looking at the current price action, it is just a matter of time before the AI coin makes this groundbreaking move.
FET performed a picture-perfect retest of the purple level as support this week. Trying again to break beyond the red resistance. Very close to challenging for new all-time highs. Just need to break this red resistance and flip it to support.
Analysts have been very bullish on the asset from the beginning because it focuses on machine learning technology and artificial intelligence.
More Prediction for FET and Bitcoin
A crypto analyst identified as “David, The Bull” also predicted earlier that the price would surge to $0.8-$1.
FET? Nothing has changed still as far as $0.49 is holding on a weekly closing basis, the direction is towards $0.80 – $1. In the last few days, I’ve seen a lot of $FET long setup on CT that keeps getting REKT haha. But warned you not to hurt in leverage. Just Spot & Chill.
Rekt also made a Bitcoin prediction, claiming the digital asset may not breach the $46,000 price point until 2024. His prediction is based on a historical pattern that establishes that the asset has never broken a four-year cycle resistance before a halving event.
Bitcoin has never broken its four-year cycle resistance (black) in a pre-halving year (candle three) But in the new candle four (2024) Bitcoin will comfortably break beyond $46,000.
Bitcoin was trading at $43,690.69 at the time of writing after falling by 0.59% in the last 24 hours. However, its weekly and three-month surges are currently 3% and 64.45% respectively.
Regardless of Rekt’s prediction, a price prediction platform has predicted that Bitcoin could finish the year with a minimum price of $52,428.83. On average, Bitcoin is expected to trade at $65,536.04 or even proceed to its maximum expected price point of $78,643.24.
Next year, trillions of dollars are expected to come into the crypto market as the US Securities and Exchange Commission is set to make its first spot Bitcoin Exchange-Traded Fund approval. According to analysts, this could send the Bitcoin price to $180k.
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