Artificial Superintelligence Alliance

Date: Fri, Sept 20, 2024, 08:14 AM GMTThe cryptocurrency market is on the move again, as a bullish rally has kicked off following a monumental announcement by the US Federal Reserve. In a bid to boost the economy, the Fed has cut interest rates by 50 basis points, sending positive ripples through financial markets, especially crypto. Bitcoin (BTC) has climbed by 2.06% in the last 24 hours, now sitting comfortably above $63,000.But it&#39;s not just Bitcoin making waves. <a href="https://coinsprobe.com/ai-tokens-near-fet-and-tao-experience-double-digit-gains-bullish-rally-ahead/" rel="noopener noreferrer nofollow">AI tokens</a> have been particularly impressive, and Artificial Superintelligence Alliance (FET) is standing out among them. Over the past 24 hours, FET has surged by 5.85%, and over the past week, it has jumped by nearly 22%, making it one of the top gainers in the AI token category, trailing only Bittensor (TAO).<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5efd31c2493540f6bc663313876e6dcb.png" />Source: Coinmarketcap<h3 id="fet-breaks-the-1-47-barrier">FET Breaks the $1.47 Barrier</h3>As of now, FET is trading at $1.61, having successfully broken through the $1.47 resistance level. This breakout came after a retest, and the next key resistance level is $1.71. If FET manages to break through this level, we could see it heading toward the $2.15 mark, which would represent a 25% increase from the current price.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/7efc341a8dfe4409906354c28810b45f.png" />The token’s momentum is further supported by a Relative Strength Index (RSI) of 78.32, indicating strong buying pressure, while its RSI-based moving average (MA) sits at 68.20.<h3 id="analyst-predicts-midterm-target">Analyst Predicts Midterm Target</h3>Prominent crypto analyst &#64;CryptoFaibik recently <a href="https://x.com/CryptoFaibik/status/1837005841112728023" rel="noopener noreferrer nofollow">shared </a>his thoughts on FET on the X platform (formerly Twitter), highlighting the coin’s potential. According to his analysis, FET&#39;s breakout from a descending broadening wedge pattern has been confirmed. His midterm target for FET is an impressive $3.90, indicating a strong bullish sentiment for the token.While the market seems optimistic, it’s always important to keep in mind that volatility can turn things around quickly.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.Related Article: <a href="https://coinsprobe.com/bittensor-tao-leads-in-ai-tokens-with-strong-rally-analyst-highlights-huge-potential-ahead/" rel="noopener noreferrer nofollow">Bittensor (TAO) Leads In AI Tokens With Strong Rally; Analyst Highlights Huge Potential Ahead</a>

FET Surges to $1.61 After Breaking $1.47: Is a Bullish Run Toward $2.15 on the Horizon?

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