A popular crypto analyst believes one artificial intelligence (AI)-focused project could remain in an uptrend for months.
The pseudonymous trader known as Altcoin Sherpa tells his 207,300 followers on the social media platform X that the decentralized artificial intelligence platform for applications Fetch.ai (FET) may rally “much higher” from its current value.
“FET: still looks good and entering a resistance area. I think it’ll go much higher in the coming months but here – $1 seems iffy in terms of entry.”
Looking at his chart, the trader suggests that FET’s next key level of resistance is at $0.76, after bouncing off $0.55, the upper bound of a prior trading range.
FET is trading for $0.70 at time of writing, up 6.5% in the last 24 hours.
Next up, the trader predicts Bitcoin (BTC) will soon hit the $58,000 level.
“BTC: next area of interest is probably the $58,000 area; price had a hard time staying above there for weeks in 2021 (my, how time flies). Expecting some sort of pullback around there but I fully believe ATH (all-time high) is getting crushed (eventually).”
Bitcoin is trading for $51,885 at time of writing, up slightly in the last 24 hours.
Lastly, the trader believes the decentralized oracle network Chainlink (LINK) is heading higher eventually.
“LINK: things still look ok on HTF (high timeframe) for LINK. I think this is going to keep going higher in the long term, but I don’t really like this one as much for short-term trades. Volatility is kind of meh (but liquidity is good).”
LINK is trading for $19.51 at time of writing, down nearly 3% in the last 24 hours.
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The post Trader Says AI-Focused Altcoin Will Soar Much Higher in Coming Months, Updates Outlook on Bitcoin and Chainlink appeared first on The Daily Hodl.
