Fetch.ai Price Prediction: FET Pumps 14% On Nvidia Earnings As AI Cryptos Boom And Analysts Say This New Solana Meme Coin Might Outperform BONK, WIF And MYRO

On Feb 22, 2024

Join Our Telegram channel to stay up to date on breaking news coverage

The Fetch.ai price has soared by 14.5% in the past 24 hours to trade at $1.12 as of 8:15 a.m. EST on trading volume that surged 10.5% to $612 million.

This surge came after AI chip maker Nvidia reported that fourth-quarter earnings had surpassed market expectations, buoying most of the AI crypto sector.

Other AI cryptos to surge included Render (RNDR), Akash Network (AKT), and Bittensor (TAO), all ascending by double digits.

Fetch.ai Price Susatains Bullish Momentum Above the Bullish Pennant

FETUSD Analysis by Tradingview

The Fetch.ai price indicates a continued uptrend after breaking from the consolidation stage. However, the resistance level at $0.78 has led to the formation of a bullish pennant, which signals a bullish trend reversal.

However, the bulls seem to have acted on the pennant, indicating resilience on the $0.4424 support zone and flying the price past the $0.78 resistance, confirming the bull rally to the $1.17 resistance level.

The technical indicators are bullish bias as bulls fly the price above the 50-day and 200-day simple moving Averages (SMAs), which currently act as immediate support for the price. Moreover, the moving average cross at $0.2504 confirms the generally bullish outlook.

Simultaneously, the up-trending relative strength index (RSI) indicates a rebound at 38, surging into the overbought zone at 84. indicating intense buying pressure for the Fetch.ai price.

FETUSD MACD Analysis by Tradingview

The MACD indicates a rebound below the neutral level, surging gracefully as the moving average blue line crosses the orange signal line, confirming the bullish trend. Additionally, the histogram indicates a positive outlook as the bars are above the neutral position.

Fetch.ai Price Could Face A Decline In The Short Term

Currently, the price trajectory of Fetch.ai is at a critical point as the bulls face rejection at $1.17 resistance. If bearish sentiment prevails, the price may face downward pressure towards the $0.78 support zone as investors with a bearish outlook on FET seek to profit from potential declines. However, a further bullish continuation is possible above $1.17 as the bulls aim to reach new levels at the $1.22 high.

Meanwhile, if you missed the FET surge, you could consider diversifying your portfolio with Smog, which analysts say is nicely positioned to outperform Solana competitors BONK, WIF, And MYRO.

SMOG, A Promising Alternative With The Biggest Upcoming Airdrop Ever

SMOG, the latest addition to the Solana meme coin frenzy, is going from strength to strength, positioning itself as one of the leading cryptocurrencies for gains this year.

The SMOG project has already made a name for itself with its fair launch, flawless decentralized exchange listing, and the subsequent rollout of its Solana-Ethereum bridge.

It also promises the mother of all airdrops. SMOG will allocate 35% of its 1.4 billion supply for its airdrop. So, if you missed Jupiter’s landmark $700 million airdrop on Solana, get ready to capitalize on this most generous ever distribution in the Solana ecosystem.

To qualify, investors must buy and hold Smog tokens in their wallets to earn airdrop points. They can also earn more airdrop points by engaging in the Zealy campaign, which currently boasts a community of 10,000 airdrop participants actively participating in various quests. So far, 400,000 quests have been completed.

One #Memecoin to rule them all! 🚀
Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰
Join #SMOG on Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024

Additionally, the Smog team is airdropping tokens to investors of other projects like Bonk, Dogwifcoin, Myro, and Samoyedcoin.

Buy And Stake SMOG For A 10% Discount

You can buy and stake SMOG directly on the Smog website on the Ethereum network and receive a 10% discount. Additionally, you’ll earn an annual percentage yield (APY) of 42% and a substantial allocation of airdrop points.

$SMOG 🐉 One #Memecoin To Rule Them All🔥
Buy or stake ERC-20 $SMOG tokens through our website for 42.0% APY.💰
Tokens staked are locked for 90 days, with rewards withdrawable throughout. 🔒💸
All tokens purchased through the site will be automatically staked.
Link in bio! pic.twitter.com/Y98lZcjuk6
— SMOG (@SMOGToken) February 10, 2024