Abstract：The Artificial Intelligence (AI) sector in the crypto space has enjoyed one of the most prominent rallies despite the debacle with OpenAI. The company
THE Artificial Intelligence (AI) sector in the crypto space has enjoyed ONE of the most prominent rallies despite the debacle with OpenAI. The company behind ChatGPT fired one of its founders and CEO, Sam Altman, sparkling downside pressure FOR AI-based TOKENs, such as FET.
The native token for Fetch.ai, FET, has been trending to the upside following the general market senTIMEnt. Over the past month, the cryptocurrency recorded a 160% rally, and its poised for further profits as it breaches critical resistance levels.
FET Rally Could End In Massive Correction
Our Editorial Director and analyst, Tony Spilotro, has been bullish on FETs trajectory. The analyst believes FET could rise 2x to 4x before losing steam and re-visiting support.
In the past, whenever the token followed a similar trajectory, printing a BUY signal above the monthly Bollinger BAND, as Spilotro stated, FET corrected by an impressive 80%. Thus, the analyst recommended NEW investors to tread carefully. Spilotro said:
(…) its safe more than likely to buy FET at such levels, so long as you have a plan to GET out before the NEXT 70+% correction happens. Otherwise, price could retrace back to your entry here. Be SMART and dont expect the rally to GO on forever.
Today, Microsoft announced the hiring of Sam Altman to spearhead a new AI division. The company will commit to providing resources for the new division, which could ignite a new bull era for AI and AI-based tokens.
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