Fetch.ai is a blockchain-based platform which enables individuals and organizations to build and deploy decentralized applications. Fetch.ai is designed to enable secure, efficient, and scalable interactions between machines and artificial intelligence (AI) systems. They use a combination of blockchain technology, machine learning, and natural language processing to create a decentralized marketplace where autonomous agents can trade data and services with each other. Fetch.ai platform is also powered by its own native cryptocurrency, known as FET. FET is used as a means of payment within the Fetch.ai ecosystem, and it can be used to access a range of services, such as data feeds, compute power, and storage space.
Fetch.ai is currently ranked 100th in the cryptoverse and has a market cap of $398 Million.Volume of the asset price has seen a drop of 8% in the intraday session.Volume to market cap ratio of Fetch.ai suggests a consolidated trend in price.
Are Bulls Of FET Ready To Push ?
The weekly technical chart of the FET suggests a weak upside trend in price.It is currently in a consolidated zone but can see a new high in the future.On the daily chart it is trading near the value of $0.468 with a gain of 2% in intraday session.The upside momentum of FET can observe a halt near $0.75.Meanwhile the support of the asset price can be seen near $0.25.It has an all time high of $1.2 which it can observe in the near future.FET price is currently trading above the 50 and 100 Daily Moving Average.There can be a positive crossover which can assist the asset price to a new high.
RSI of the FET is near 57 with a negative slope in it.The overall sentiment of the RSI is consolidating.
Conclusion
Fetch.ai has recently partnered with Bosch to develop Web 3 tools. It is currently observing a consolidating but can see a new high. Various analysts are expecting a strong growth in FET.
Technical Levels
Major Support:$0.35
Major Resistance:$0.65
