The cryptocurrency market is showing signs of recovery as Bitcoin and Ethereum have surged significantly over the past week, supporting altcoins.
Bitcoin and Ethereum's Surge Supports the Market
Bitcoin (BTC) and Ethereum (ETH) have risen by 5% and 9% respectively over the past seven days, providing much-needed relief for altcoins that suffered major corrections previously.
Bullish Pattern Formation for FET
The token Artificial Superintelligence Alliance (FET) is gaining traction, rising over 11% in the past week. A technical analysis suggests that a potential rebound could erase its 90-day-long correction and lead to strong price recovery. The formation of a Bullish Shark pattern indicates a possible price surge.
Conclusion: Recovery Prospects
With improving market sentiment and growing interest in AI-based tokens like FET, the prospect of a strong rebound is real. However, it is important to monitor resistance levels and market conditions for sustainable growth.
Considering the bullish pattern, improving sentiment in the crypto market, and increased interest in AI-based tokens, FET may be on the verge of a strong rebound.
