FET Surges Past $0.71: A 20% Rally and What It Means for AI Crypto Projects

FET’s Breakout: More Than Just Hype?

Another day, another altcoin rally—but this one caught my quant models off guard. FET, the token powering Fetch.ai’s decentralized machine learning network, just punched through $0.71 with violent 20% gains. The chart looks like someone fed caffeine to an algorithm (which, ironically, is kinda what Fetch.ai does).

Technical Take: That ascending triangle breakout on the 4-hour chart? Textbook. Volume confirms institutional interest beyond retail FOMO. But RSI at 68 suggests we’re not oversold anymore—proceed with caution if you’re late to the party.

Why AI Tokens Are Heating Up

1. Narrative Fuel: Nvidia earnings next week have speculators front-running AI plays
2. Ecosystem Growth: Fetch.ai’s recent Bosch partnership signals real-world adoption
3. Gamma Squeeze: Over $2M in FET options expired ITM yesterday, forcing market maker hedging

My DeFi contacts whisper about a “secret” SDK update coming Q3—take that rumor with industrial-grade salt.

To Buy or Not to Buy?

Here’s my cold-blooded Wall Street perspective:

• Bull Case: If FET holds \(0.65 as new support, we could see \)0.90 before September
• Bear Case: Bitcoin dominance rising means altcoin pumps might get slaughtered in any macro downturn

I’m trimming 30% of my position here and setting stop-losses at $0.62. Remember what happened to AGIX last March? Exactly.