The post Fetch.ai (FET) Price To Surge Post Integration Of Artificial Superintelligence Alliance (ASI)? appeared first on Coinpedia Fintech News
The Artificial Superintelligence Alliance (ASI) is a collaboration between Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN). This project primarily aims to accelerate the research and development of Decentralized Artificial General Intelligence (AGI) and Artificial Superintelligence (ASI).
With this, the Artificial Intelligence (AI) category is predicted to gain significant attention and value during the upcoming time. Want to know more about the phase-wise interrogation of this project?
Scroll down as in this article, we have covered the phase-wise implementation of Artificial Superintelligence Alliance (ASI) and the price analysis of Fetch.ai (FET).
Phase-wise Integration Of FET, AGIX, and OCEAN To Form ASI:
Notably, phase one involves the merge of these three tokens when started on 1st July 2024. Following the merger, the FET trading will remain uninterrupted. While the existing AGIX and OCEAN tokens will start delisting from exchanges.
The initial phase will focus on data aggregators websites and exchanges for a smooth transaction during the rebranding process of the ASI on all major and minor cryptocurrency platforms.
Phase two will focus on community and ASI development. During this phase, migration contracts will be available for the unconverted tokens across multiple blockchains. Moreover, all FET mainnet tokens will automatically ASI during the upcoming upgrade.
This process is scheduled for several years to provide its investors and users ample time for conversion of their holdings.
Fetch.ai (FET) Price Analysis:
The FET price continues to trade within a closed range between $1.285 and $1.855 for a brief period, indicating a weak bullish influence. Further, with a drop of 7.89% within the past day, the AI token is on the verge of testing its crucial support, the outcome of which is unpredictable.
The Moving Average Convergence Divergence (MACD) displays a constant decline in the green histogram, indicating an increase in the selling-over-buying pressure in the crypto market. Moreover, the averages show a high possibility of a bearish convergence, suggesting a negative outlook for the AI token this week.
On the other hand, the SMA indicator constantly acts as a resistance to the FET price chart in the 1D time frame, suggesting a strong bearish sentiment in the crypto space.
Will FET Price Rise Back Up?
If the market holds the Fetch.ai price above its important support level of $1.285, the bulls will regain momentum and test its resistance level of $1.855 soon. Moreover, if the bulls hold the price at that level, it will set the stage for the FET coin price to test its upper level of $2.369.
However, if the bears overpowered the bulls, the FET price would break down its crucial support level of $1.285 and plunge toward its low of $0.816 this month.
