Fetch.AI Price Prediction – Why $3 Is An Easy Target Ahead Of NVIDIA AI Conference

Fetch.ai is one of the best-performing cryptocurrencies in the past week, up by over 400%. Today, it continues this momentum, outperforming the rest of the market. In the last 24 hours, Fetch.ai has gained by 43% from a low of $1.9091 to its current price of $2.75. 

Fetch.ai is one of the most conspicuous AI cryptocurrencies that have benefited immensely from the ongoing AI wave. Fetch.ai is designed to be a permissionless, machine-learning network that is entirely decentralized. Through Fetch.ai, anyone from anywhere in the world can access data sets that can be used for AI applications. Fetch.ai has multiple use cases as AI becomes integral to everyday life. For instance, Fetch.ai can be used for more efficient trading of financial instruments and building better transport networks that leverage the power of AI.  The idea is that any AI use case that needs a huge amount of data can find Fetch.ai useful. 

What is https://t.co/kJ9URVpOul? We’re where #AI Meets the Decentralized Economy 🚀

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— Fetch.ai (@Fetch_ai) March 6, 2024

However, more than the strong use case is giving Fetch.ai its current momentum. There is a general pivot in investment cycles towards AI. AI stocks are leading the way in gains in the stock markets, and the same momentum has flowed into the crypto market. 

NVIDIA Conference: A Boost For AI Tokens

This confluence of interests in AI is giving FET a lot of momentum at this point. For context, NVIDIA, one of the leading players in the AI scene, will have a conference between the 18th and 21st of March. The company is expected to announce several artificial intelligence chip innovations at this conference that could take the already ballooning AI market to the next level. 

Don’t miss the insights at #GTC24 from all 8 authors of the groundbreaking paper “Attention is All You Need” that introduced transformers to the world. Hear from the experts on the technology that helped build every major #AI model. https://t.co/bG2jSoSjX5 pic.twitter.com/lTbH6viSIv

— NVIDIA (@nvidia) March 5, 2024

AI cryptocurrencies like FET could make new highs if the announcement includes revolutionary breakthroughs. This may explain the buildup in buying momentum around Fetch.ai, even though it is currently up by over 400% in just a week. 

Hype Plus Strong Use Case

The hype buildup around Fetch.ai is also because it has better fundamentals than most other cryptos pumping. Most of the coins pumping right now are meme coins with nothing to back them up besides hype. Fetch.ai has the element of hype and some of the best fundamentals in the crypto market. Fetch.ai fundamentals are evident in the fact that it has already inked partnerships with some large corporations such as Bosch and Deutsche Telekom. 

Even better is that Fetch.ai is easily accessible on most top-tier cryptocurrency exchanges. Anyone who wants to invest in Fetch.ai can do so through top cryptocurrency exchanges like Binance, KuCoin, and even Binance. 

In the section below, we do a Fetch.ai price analysis to determine how high it can go now that it has raked in several hundred percent in gains within a short time. 

FET Crypto Price Prediction 

When going to press, FET was trading at $2.76, with trading volumes rising by 81% to $1.363 billion. Fetch.ai has a market capitalization of $2.3 billion, up 42% in the last 24 hours. 

Since its bullish breakout on March 5th, FET has traded in a bullish channel, making higher lows over time. Today, FET continues this trend and, after a slight dip to $2.698, has regained the upside momentum it had built earlier. If bulls can push FET through $2.776, a key intraday resistance, then prices above $3 could be hit in the day. 

However, if bulls lose momentum, two scenarios could play out in the day. The first is a consolidation between $2.776 and the day’s low of $2.698. On the other hand, if bears take control and push FET through the $2.698 support, then prices below $2.4 could be hit in the day. 

The Case For $3 And Above For FET Today

While Fetch.ai can consolidate or turn bearish, the odds are higher that bulls will rule the day. That’s because there is a lot of buying volume buildup in anticipation of the upcoming NVIDIA event. 

At the same time, FET’s current market cap gives it a lot of room to grow going forward. Fetch.ai currently has a market capitalization of $2.29 billion. That’s a tiny market for an in-demand token with a circulating supply of only 835 million tokens and a total supply of 1.15 billion.