bullish

Rally

Momentum

Coin

<ul class="wp-block-list news-points"> 
 <li><strong>FET surges 40% post-breakout, mirroring its 2023 rally.</strong></li> 
 <li><strong>The earn-and-burn mechanism aims to cut the token supply by 100M.&nbsp;&nbsp;</strong></li> 
 <li><strong>$1.77 is a key resistance level for sustained bullish momentum.</strong></li> 
</ul> 
<p>Fetch.AI’s FET token has posted <a href="https://x.com/rektcapital/status/1862252715784462507?t=soTOfoQac8yx7QHDnc4fXQ&amp;s=19" target="_blank" rel="nofollow">40% weekly gains</a>, breaking out of its nine-month consolidation phase; a bullish momentum similar to its 2023 rally. Fetch.AI’s upcoming deflationary “Earn-and-Burn” initiative is also contributing to the positive sentiment, which has added further confidence to its long-term prospects.</p> 
<p>After consolidating within a tight range for months, FET broke out mirroring the 2023 price action, where it rallied for six months after a similar technical breakout.&nbsp;</p> 
<p>The ongoing rally now hinges on whether bulls can flip $1.77—previously a resistance point in March 2024—into solid support.&nbsp;</p> 
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  <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfRYoDOX0FI_ILiPvPU5zkq_-rch0e6jtleZPeVUXIlCIS9Jt9occvqvXvq0qydqFAKVdC18KK09CkUc6oS5qBOB9PSAd6CL6Dce6TPDyehgDrLpGqTV9YtreBXxaXz48iFfx87jQ?key=RduEgKVg6pt6ET1_QGPm4KKd" alt="" style="width: 100%;height:auto">
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</div> 
<h2 class="wp-block-heading" id="h-earn-and-burn-fuels-the-rally">“Earn-and-Burn” Fuels the Rally</h2> 
<p>Adding fuel to the bullish sentiment, Fetch.AI recently announced its <a href="https://x.com/ASI_Alliance/status/1861821419392307279" target="_blank" rel="nofollow">“Earn-and-Burn” </a>mechanism, a deflationary strategy to reduce the token supply by burning a portion of the fees generated through Artificial Superintelligence (ASI) services.&nbsp;</p> 
<p>Set to begin in December, the program will reduce FET’s total supply, which s…</p>
<p>The post <a href="https://coinedition.com/fet-rallies-40-breaking-nine-month-lull-with-new-bullish-momentum/">FET Rallies 40%, Breaking Nine-Month Lull With New Bullish Momentum</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

FET Rallies 40%, Breaking Nine-Month Lull With New Bullish Momentum

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