Artificial Superintelligence Alliance Price Prediction 2024: FET Price Analysis
FET Price Prediction for 2024/2025/2030 | Credit: Hameem Sarwar
Key Takeaways
- FET, OCEAN, and AGIX merged to create the ASI Alliance on July 1.
- Phase 2 of the merger, which will migrate FET to ASI, has not happened yet.
- Our price predictions suggest that a new upward movement will transpire soon.
After several delays, the Artificial Superintelligence Alliance merger finally went live on July 1. OCEAN and AGIX were merged at a ratio of 0.43 to 1, while FET was renamed ASI. This concluded phase 1 of the merger. On July 5, Binance announced that it had converted users of OCEAN and AGIX to FET.
Phase 2 , which started in July, will include upgrading Fetch.AI’s network to ASI, deploying it across multiple chains, and finally migrating FET to ASI. As of the time of writing on August 19, the date for the conclusion of this phase is yet to be determined.
On August 20, 2024, FET exchanged hands for $0.92.
Let’s examine our price predictions for Artificial Superintelligence Alliance, made on August 20, 2024. We will also examine the FET price history and discuss what the Artificial Superintelligence Alliance is and does.
Artificial Superintelligence Alliance Price Prediction
Our FET price predictions are generated using a two-pronged approach. We combine fractal analysis, which involves mirroring movements and indicator readings, with wave count analysis to form our predictions.
To derive a single prediction, we take the average of the two methods, which serves as our mean price forecast. Meanwhile, the more bullish prediction sets our maximum price target, while the more conservative prediction sets our minimum price target.
| Minimum FET Price Prediction | Average FET Price Prediction | Maximum FET Price Prediction | |
|---|---|---|---|
| 2024 | $3.70 | $5.05 | $6.40 |
| 2025 | $0.10 | $0.50 | $0.90 |
| 2030 | $10 | $12.50 | $15 |
Fractal Method
The weekly RSI for FET fell into oversold territory and generated a bullish divergence for the first time between June 2019 and March 2020. This triggered a significant upward movement inside an ascending parallel channel. The high for the move was reached after 546 days and made above the channel’s midline.
The upward movement had a magnitude of over 15,100%, and until the second touch of the resistance trend line (black icon), an increase of 11,682% lasted for 392 days.
A very similar movement transpired in December 2022. After the RSI generated a bullish divergence, FET increased inside an ascending parallel channel.
The increase until the second touch of the resistance trend line lasted for 490 days and had a magnitude of 6,747%. So, it was weaker but lengthier than the one in 2020.
Using the difference ratio between the movements, we arrive at a high of $4.71 in October. Then, we can project a decline similar to one after the original all-time high.
Doing so gives FET price predictions of $3.70 and $0.10 for the end of 2024 and 2025, respectively.
Wave Count Method
The most likely wave count suggests that FET has completed wave four in a five-wave increase that started at the beginning of 2023. Wave three extended, so wave five may have the same length as wave one.
If we give each wave roughly the same length, this high will be reached in January 2025. Then, FET will reach its market cycle high at $7.65.
Then, we can project a correction that takes the FET price to the $0.50 support level and has the same length as the increase. Doing so leads to a low in May 2026.
During these projected upward and downward movements, the wave count method leads to a FET price prediction of $6.40 and $0.90 for the end of 2024 and 2025, respectively.
Then, we use the daily rate of increase over the past five years to make a price prediction for the end of 2030. Since Aug. 2019, FET has increased by 1,134% in 1,844 days, leading to a daily rate of increase of 0.61%.
Projecting this increase until the end of 2030 leads to a FET price prediction of $12.50. We then add and subtract 20% to this target to arrive at our minimum and maximum price predictions.
Artificial Superintelligence Alliance Price Prediction 2024
The wave count and fractal methods predict an FET price range of $3.70 to $6.40 by the end of 2024.
Artificial Superintelligence Alliance Price Prediction 2025
The wave count and fractal methods lead to a FET price prediction range of $0.10 to $0.90 for the end of 2025.
Artificial Superintelligence Alliance Price Prediction 2030
Using the daily rate of increase for the past five years, we arrive at a FET price prediction range of $10 to $15 for the end of 2030.
FET Price Analysis
The daily FET chart shows a descent under a resistance trend line since the all-time high of March. The trend line has been validated numerous times so far, and the price of FET is attempting to break out again today, August 20.
Technical indicators support this breakout since the RSI and MACD generated bullish divergences. Afterward, the RSI increased toward 50 while the MACD made a bullish cross.
If a breakout happens, the price of Artifical Superintelligence Alliance can increase to the closest resistance at $1.75.
Short-Term Artificial Superintelligence Alliance Price Prediction
The FET price prediction for the next 24 hours relies on a successful breakout from this trend line. If this happens, FET can gradually increase toward the $1.75 resistance. If a similar rate of increase follows, FET will break out by the end of the week and potentially reach a high of $1.36.
FET Relative Strength Index (RSI): Is FET Oversold or Undersold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above and below the 50 line also indicate if the trend is bullish or bearish. On August 20, 2024, the FET weekly RSI was 40, indicating a bearish sentiment. The RSI broke down below 50 in June.
FET Average True Range (ATR): FET Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On August 20, FET’s weekly ATR was 0.4, implying high volatility. It has increased since the start of the year and is close to its all-time high of 0.5, reached in March.
Best Days and Months to Buy FET
We looked at the FET price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy FET.
| Time to Buy FET | Best Days, Weeks, Months and Quarters |
|---|---|
| Best Day | Friday |
| Best Week | 6 |
| Best Month | February |
| Best Quarter | Quarter 1 |
FET Price History
Next, let’s examine some key dates in the FET price history. While past performance should never be taken as an indicator of future results, knowing what the coin has done can give us some very useful context when making or interpreting an Artificial Superintelligence Alliance price prediction.
2019: FET launched in March 2019 at $0.35. It immediately started a downward trend, closing the year at $0.040.
2020-2021: The start of 2020 was bearish for FET, leading to the all-time low price of $0.008 in March. However, a sharp upward movement followed, culminating in a high of $0.94 in September. FET closed 2021 at $0.50.
2022-2023: These were two years of consolidation, where FET briefly fell below $0.10 but then started an upward movement toward $0.30.
2024: FET started the year bullishly, reaching a new all-time high price of $3.45 on March 28. However, it has fallen considerably since. On August 20, 2024, the price of FET was at $0.92, slightly higher than the yearly open of $0.72.
| Time Period | FET Price |
|---|---|
| Last Week (August 13, 2024) | $0.84 |
| Last Month (July 20, 2024) | $1.42 |
| Three Months Ago (May 20, 2024) | $2.52 |
| Last Year (August 13, 2023) | $0.19 |
| Five Years Ago (August 13, 2019) | $0.06 |
| Launch Price (March 1, 2019) | $0.35 |
| All-Time High (March 28, 2024) | $3.45 |
| All-Time Low (March 13, 2020) | $0.008 |
FET Market Cap
The market capitalization, or market cap, is the sum of the total number of FET tokens in circulation multiplied by their price. On August 21, 2024, FET’s market cap was $2.319 billion, making it the 39th-largest crypto by that metric.
FET Performance Comparison
Artificial Superintelligence Alliance is part of the AI category, so let’s compare it to tokens of the same category to measure its performance relative to theirs.
Who Owns the Most FET Tokens?
As of August 21, 2024, the five wallets with the most FET tokens were:
- 0xf58db6a8c84b454cc8d2980b0d8b6017d0b645dc. This wallet held 477,549,565 FET or 18.15% of the supply.
- 0x664d2f142cbc89ee9ed20c8e4eeb66c63b9ce663. This wallet held 369,658,741 FET or 14.05% of the supply.
- 0x33784ed688e507a2086b4e8793e126c8dee9e863. This wallet held 172,456,226 FET or 6.56% of the supply.
- 0x5a52e96bacdabb82fd05763e25335261b270efcb. This wallet held 169,565,941 FET or 6.45% of the supply.
- 0xcc9e531714b04d26c454091471c5210e29343d79. This wallet held 142,747,488 FET or 5.43% of the supply.
FET Supply and Distribution
| Supply and Distribution | Figures |
|---|---|
| Total Supply | 2,630,547,141 |
| Circulating Supply as of August 20, 2024 | 2,521,012,371 (96% of the total supply) |
| Holder Distribution as of August 20, 2024 | The top 10 holders own 64% of the total supply |
From the FET Whitepaper
According to its whitepaper , The Artificial Superintelligence Alliance (ASI) brings together SingularityNET, Fetch.AI, and Ocean Protocol to create the world’s largest decentralized AI research foundation, focused on accelerating the development of decentralized Artificial Superintelligence (ASI).
Artificial Superintelligence Alliance Explained
The alliance aims to unify efforts to create decentralized Artificial Superintelligence, a form of AI that surpasses human intelligence. Therefore, this merger of networks and resources is designed to ensure that the development of AI remains open, ethical, and decentralized, countering the risks of centralized control by Big Tech and other powerful entities.
How FET Works
The ASI Alliance works by merging the tokenomic networks of SingularityNET, Fetch.AI, and Ocean Protocol into a single, cohesive ecosystem powered by the $ASI token. Each project continues to operate autonomously but collaborates closely on key initiatives.
SingularityNET focuses on creating the cognitive architecture for AGI and ASI, Fetch.AI provides the infrastructure for deploying decentralized AI applications, and Ocean Protocol ensures secure and ethical data management.
Is FET a Good Investment?
FET has increased considerably in the past two years, leading to a new all-time high. With the merger between AI tokens, FET could eventually become the largest token in the category.
Will FET go up or down?
The FET price currently trades in an area that is very likely to initiate a bounce. This could be the final upward movement in the current market cycle. Breaking out from the resistance trend line will confirm the upward movement.
Should I invest in FET?
Before you decide whether or not to invest in FET, you will have to do your own research and ensure that you never invest more money than you can afford to lose.
FAQs
Will FET Reach $10?
Our price predictions suggest that if the current rate of increase holds, FET may climb above $10 in 2030.
What is FET used for?
FET will be used to align incentives across the three projects, facilitating seamless interactions and collaborations within the decentralized network.
