Trader Says AI-Focused Altcoin Will Soar Much Higher in Coming Months, Updates Outlook on Bitcoin and Chainlink
A popular crypto analyst believes one artificial intelligence (AI)-focused project could remain in an uptrend for months.
The pseudonymous trader known as Altcoin Sherpa tells his 207,300 followers on the social media platform X that the decentralized artificial intelligence platform for applications Fetch.ai (FET) may rally “much higher” from its current value.
“FET: still looks good and entering a resistance area. I think it’ll go much higher in the coming months but here – $1 seems iffy in terms of entry.”
Looking at his chart, the trader suggests that FET’s next key level of resistance is at $0.76, after bouncing off $0.55, the upper bound of a prior trading range.
FET is trading for $0.70 at time of writing, up 6.5% in the last 24 hours.
Next up, the trader predicts Bitcoin (BTC) will soon hit the $58,000 level.
“BTC: next area of interest is probably the $58,000 area; price had a hard time staying above there for weeks in 2021 (my, how time flies). Expecting some sort of pullback around there but I fully believe ATH (all-time high) is getting crushed (eventually).”
Bitcoin is trading for $51,885 at time of writing, up slightly in the last 24 hours.
Lastly, the trader believes the decentralized oracle network Chainlink (LINK) is heading higher eventually.
“LINK: things still look ok on HTF (high timeframe) for LINK. I think this is going to keep going higher in the long term, but I don’t really like this one as much for short-term trades. Volatility is kind of meh (but liquidity is good).”
LINK is trading for $19.51 at time of writing, down nearly 3% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Author: Daily Hodl Staff
