With the imminent merger of crypto AI tokens $FET, $AGIX, and $OCEAN, all are surging into this event. Will the newly created $ASI token continue these gains, or will the merger be a ‘sell the news’ event?
Much excitement and anticipation is taking place among holders of Fetch.ai ($FET), SingularityNET ($AGIX), and Ocean Protocol ($OCEAN), as the July 1 deadline for the merger approaches.
As this event draws nearer, the prices of all the involved tokens are putting on a surge to the upside. With $BTC flat and slightly down after its price increase on Tuesday, and most other cryptocurrencies following suit, $FET, $AGIX, and $OCEAN are bucking the trend.
Fetch.ai ($FET)
Source: TradingView
The $FET price is up 55% from last week’s bottom, and is currently trading at $1.72. The fibonacci levels show that $2.10 could be reached if $FET is able to break out of its down trend. The next target would be $2.37, depending on whether this can be reached before the merger.
SingularityNET ($AGIX)
Source: TradingView
$AGIX is practically a carbon copy of the $FET chart. Both these cryptocurrencies have been pretty much in lockstep since the beginning of the year. $AGIX has increased 52%, also since last week.
Ocean Protocol ($OCEAN)
Source: TradingView
$OCEAN is also very similar in its trading patterns since the beginning of the year. The only difference could be that the price is nearer breakout. $0.87 and $0.97 are the targets from the current price of $0.70.
Will the merger be a ‘sell the news’ event?
Even with this positive price action, traders and investors should treat the merger with caution. Once the merged token $ASI is live, there could certainly be a ‘sell the news’ event. Bitcoin’s price action going into July will also have an effect on how $ASI performs.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
