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- Analyst Captain Faibik predicts FET could break resistance, potentially hitting a new all-time high at $4.20.
- Javon Marks identifies Hidden Bullish Divergence in FET, signaling a possible threefold increase from current levels.
The remarkable performance of the Artificial Superintelligence Alliance (FET) token has sparked substantial interest, particularly from popular analyst Captain Faibik, who believes the token has the ability to rise even higher and possibly achieve a new all-time high (ATH).
Analyst Highlights FET Recovery and $4.20 Potential Amid Market Challenges
In a tweet, Captain Faibik stated that FET has been recovering well and is now targeting a major resistance level of $1.55. According to his analysis, if FET breaks through the present Broadening Wedge pattern, it might signal a surge towards a new ATH in the $4.20 level.
$FET is Recovering Nicely and approaching Key Resistance level ($1.55) 📈
Successful Breakout from Broadening wedge pattern could signal a new All time High in Q4.#Crypto #FET #FETUSDT pic.twitter.com/8XGsea0E4A
— Captain Faibik 🐺 (@CryptoFaibik) August 27, 2024
However, FET’s path has not been without hurdles. A multi-week decline has tried investors patience, but there is hope that this phase is nearing a conclusion.
At the time of writing, FET is trading around $1.21, down 2.76% over the last 24 hours. Despite this, the general picture is still optimistic, as corrections are a common feature of strong bullish price trends.
Adding to the confidence surrounding FET, CNF recently reported that the token has risen 67% in price since the announcement of its merger with Internet Computer (CP) and Near Protocol (NEAR). This transaction has surely aided FET’s market performance, adding to the growing euphoria among investors and experts alike.
Another well-known analyst, Javon Marks, has also expressed his optimism about FET. He discovered a Hidden Bullish Divergence in the token, implying that FET is prepared for a threefold increase from its current position, which might propel it to an all-time high.
Furthermore, as we previously noted, Fetch.ai has established an Innovation Lab, committing $10 million each year to promote AI businesses. This project is designed to boost FET’s market position and increase attention from the larger IT and investment groups.
