Throughout the year, artificial intelligence (AI) altcoins have garnered significant attention, with Fetch (FET) Coin becoming a favorite among investors. A well-known analyst, who has previously predicted major market movements, recently updated his price forecast for FET Coin.
Following the launch of ChatGPT in November 2022, the altcoin experienced an impressive 1070% increase, rewarding investors who capitalized on the market’s low point. FET Coin regained the notable $0.24 threshold in August and is currently trading above $0.79.
Rekt Capital, a prominent cryptocurrency commentator, suggested in his latest analysis that FET Coin has perfectly retested a purple support level a few weeks ago and is now attempting to breach a red resistance line, nearing its all-time high (ATH). The coin needs to break this resistance and turn it into support to achieve new record levels.
If the analyst’s prediction holds true, FET Coin will need to surpass the $1 mark and set a new historical peak. On the Binance exchange, the ATH was $1.19, with further targets appearing to be within reach.
Sam Altman, CEO of OpenAI, hinted at exciting developments in 2024 that will amaze everyone. While current iterations like GPT-3.5 and GPT-4 are already impressive, the anticipation for what comes next is high. Partnerships like Fetch’s collaboration with Bosch and the ability to interpret sensor data with AI suggest a sustained demand for AI altcoins.
Should the expected scenario unfold, and 2024 becomes a heated altcoin season, AI tokens, with the support of industry leaders, could see substantial gains. WLD Coin, initiated by current OpenAI CEO Sam Altman, is also likely to continue its upward trajectory alongside other AI-focused cryptocurrencies.