Fetch.ai (FET) is experiencing a rebound, displaying a significant uptick in its value. Presently, the token is priced at $1.345345, boasting a trading volume of $454.59 million over the last 24 hours and a market capitalization of $925.76 million. The token has seen a 14.10% price surge within the past day.
Binance Delisting Sparks Panic for FET
Amidst today’s unfolding events, crypto expert HunterX.ai raised an important issue involving Fetch.ai. Binance’s decision to remove Fetch.ai from its listings on July 1st has sent ripples of surprise across the cryptocurrency community.
The announcement’s timing and phrasing have raised eyebrows among investors and analysts alike. Notably, the announcement omits any mention of the delisting being related to the upcoming merger with Artificial Superintelligence ($ASI).
Rather than clarifying that the delisting is part of a strategic merger plan, the ambiguous announcement triggered widespread fear, uncertainty, and doubt (FUD) within the market. This, in turn, led to a significant price drop as panic selling ensued.
However, amidst the turmoil, HunterX.ai saw an opportunity. Recognizing the potential behind the $FET/$ASI merger, he, along with many other savvy investors, capitalized on the fear and uncertainty to acquire FET at a lower price. He believes in the resilience and strength of Fetch.ai, likening its journey to that of a samurai sword forged and hardened through repeated trials.
HunterX.ai asserts that Fetch.ai is one of the most robust coins in the market today, with the potential for a dramatic rebound. According to him, the forthcoming price surge will be monumental, promising a “biblical” pump for those who hold steady and invest wisely.
Analysts Spotlight Bullish Signals for Fetch.ai (FET)
Prominent crypto analysts have noted positive technical signs for Fetch.ai amid market turbulence. Jonathan Carter, a reputable figure in the crypto analysis realm, observed that Fetch.ai is currently moving within an upward trend channel, finding stability at the 100-day moving average (MA 100). Carter emphasized that the oversold condition indicated by the Relative Strength Index (RSI) often hints at a potential upward shift ahead.
Affirming this positive perspective, Crypto Leo provided an update regarding Fetch.ai, highlighting a notable response in the daily chart at the recent demand area, resulting in a deviation. He elaborated that the formation of an engulfing pattern, triggered if the current day’s candle closes higher than yesterday’s wick, signifies a robust bullish indication.
Moreover, Crypto Leo pointed out the Volume Spread Analysis (VSA), indicating a strong bullish trend. He noted that the current candle, similar in size to yesterday’s, was formed with less effort, as shown by the volume indicator. This implies a rise in buying activity coupled with reduced selling pressure, strengthening the likelihood of a price surge.
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