• Fetch.ai price dropped 3% after a double digit move the previous day.
• AI remains a strong narrative and could help FET price regain momentum.
• Data shows that FET is up 70% in the past 30 days.
Fetch.ai Price Prediction: FET Still Attractive Amid AI Narrative
Fetch.ai price was down 3% on Thursday morning after a double digit move the previous day. Prices are likely to break lower, however analysts say that AI remains a strong narrative and this could help FET price recover momentum.
Data shows that 96% of holders are in profit after Fetch.ai’s price spiked more than 70% in February and it has currently dipped to support levels at $0.45 early Thursday, with the price of the native FET mirroring the broader crypto market in trending lower.
AI Remains Hot Narrative
AI related tokens have recently outperformed in the market, particularly after tech giants Microsoft and Google poured resources into the sector on OpenAI’s Chat GPT hype. Analysts say that while there is chance of distribution move, an uptrend is more likely trajectory for FET due to AI remaining one of hottest trends in market right now.
Breakout from Triangle Pattern
FET posted a breakout from triangle pattern on daily chart but bulls ran into hurdle just above $0.48 mark which led to distribution move being considered as possibility for token’s future trend trajectory by some traders/analysts .