FETCH AI: Is it intelligent to invest in AI right now?
FETCH AI being a very deployable concept and useful token in the world of meme coins. It has seen its fair share of the pump in the month of March along with the crypto rally and came back on its average (well below it right now) in the crypto market crash of May. What is its status right now?
Exponential Moving Analysis And the Resistance Area
Looking at the exponential moving average in the 1hr chart, FET has been rejected at the 150 ema multiple times in the month of May. Right now, its near the end of a triangular mesh, where at the top is lurking both the three moving averages (50,100,150) at a very close range and the resistance slant line a little above the MAs which has rejected it twice recently and a couple of times during the downfall as well.
The Green Box:
The green box represents the support/resistance region. It is a middle ground between trends. FET pumped real hard on 26th April when it touched this area but now it failed to do so in both attempts.
CONCLUSION:
FETCH AI may have all the traits of the blockchain future one imagines but from an investment point of view, dark clouds are roaming over it. Will it be saved by rigorous marketing or an investment miracle because if not further dump seems inevitable.
Exponential Moving Analysis And the Resistance Area
Looking at the exponential moving average in the 1hr chart, FET has been rejected at the 150 ema multiple times in the month of May. Right now, its near the end of a triangular mesh, where at the top is lurking both the three moving averages (50,100,150) at a very close range and the resistance slant line a little above the MAs which has rejected it twice recently and a couple of times during the downfall as well.
The Green Box:
The green box represents the support/resistance region. It is a middle ground between trends. FET pumped real hard on 26th April when it touched this area but now it failed to do so in both attempts.
CONCLUSION:
FETCH AI may have all the traits of the blockchain future one imagines but from an investment point of view, dark clouds are roaming over it. Will it be saved by rigorous marketing or an investment miracle because if not further dump seems inevitable.