Three leading players in the artificial intelligence field have come together under the Artificial Superintelligence Alliance (ASI). This move could significantly impact the development of cryptocurrencies such as FET, AGIX, and OCEAN.
The Merger and Its Implications
With the creation of the Artificial Superintelligence Alliance (ASI), three major AI players have united. This step opens up new opportunities for alternative initiatives and accelerates the growth of cryptocurrencies FET, AGIX, and OCEAN. However, the long-term consequences for these cryptocurrencies remain speculative.
Current Trends in FET Coin
Currently, the price of FET Coin stands at $0.84, reflecting a 3% increase over the last 7 days. Investors are profitable and supported by on-chain data. According to Santiment data, the number of addresses holding between 10,000 and 10 million tokens increased by 16% in 7 days. This group holds more than 37% of the total supply of 2.52 billion tokens. However, the Elder-Ray Index suggests that current profitability may soon reverse.
FET Coin Price Targets
The current price of FET Coin is below the 20-day moving average, which was also affected by the recent drop in BTC. For cryptocurrencies, prices below EMA20 reflect a negative short-term outlook and dominant selling pressure. To confirm a continuation of the short-term uptrend, BTC needs to close above $63,000, but at the time of writing, it stands at $56,078. If the decline continues, the $0.7 level may be retested. In the opposite scenario, the $1 level should be reclaimed and $1.35 should turn into support for the rally to accelerate.
The merger of major players in the AI field under the Artificial Superintelligence Alliance opens up new opportunities for the market. However, short-term forecasts for FET Coin remain unstable due to current market conditions.
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