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FET is dancing around $0.94 at the time of articulating this piece. It could soon touch a new all-time high milestone, surpassing the $1 mark in the days to come. Most of it is derived from the assumption that AI continues gaining traction globally. That is likely to happen, considering major companies are now chasing AI and AI-related innovations. For instance, OpenAI has released Sola, a text-to-video generator tool, creating an optimistic moment among AI tokens.
Those include the likes of FET and Worldcoin (WLD). Another point in favor of Fetch.ai’s FET is the statement that Deutsche Telekom would collaborate with Fetch.ai to serve as a validator and safeguard the blockchain. The partnership has been identified as a key catalyst driving the price surge.
FET has already hit the 2-year ATH of $0.8420 on February 18, 2024. If Sora, OpenAI’s latest AI tool, continues to perform well, FET can earn a new resistance level and convert the present one into a support level. FET’s utility primarily pertains to paying for services in the native ecosystem and funding projects with AI as the fundamental technology. Services in the ecosystem include DeltaV.
Bitcoin and Ethereum are playing an equally important role. The rise of Bitcoin to a value of more than $50,000 has paved the way for every crypto to rise. With Bitcoin halving a few days away, there is rising speculation that the price of the dominant token will surge based on its historical context. An estimate is yet to be made public, but the rise is certain.
Ethereum is merging as the leading altcoin. It could benefit from the crypto inflow. Thereby passing it on to other similar tokens like FET. Fetch.ai crypto price prediction estimates that FET could close the year at $0.70. Current trends defy that estimate. If they persist, FET will move on to mark a new support level of $1 by the end of this year.
Crypto Patel, a famous digital analyst, estimates that FET could even touch $10, considering the token has risen by more than 75% in the last 2 weeks. FET has indeed grown by 40.07% in the last 7 days alone at the time of writing this article. It has also marked an increase of 55.955 in the last 30 days. A pivotal milestone of $10 is a far-fetched dream for Fetch.ai; however, Crypto Patel has kept it in their sights.
There is no tentative timeline available to paint a picture of when Fetch.ai’s FET will touch a new ATH. It is only safe to conclude that it could happen sometime around Bitcoin Halving. Ethereum’s performance will strengthen its rise in the market.