Popular crypto analyst Altcoin Sherpa says that one artificial intelligence (AI) project will definitely make new highs in the near future.
The pseudonymous analyst tells his 203,000 followers on the social media platform X that Fetch.ai (FET) will benefit from a bullish narrative looking ahead into 2024.
Fetch.ai is a blockchain-based AI platform that aims to automate certain tasks and systems, such as supply chain logistics or recordkeeping, for individuals or organizations. Its technology is largely powered by AI agents that can plan and execute tasks.
According to Altcoin Sherpa, a dip in FET, the project’s native token, down to the $0.50 level may present bulls with a buying opportunity.
“FET: A few things- I think that this one definitely breaks ATH (all-time high)
big supply zone from $.75-$1 though / hard place to buy around here
Still a very strong coin + narrative in 2024
Dip areas in $.50 would be one to look for”
The trader has a similar, but more short-term point of view on Ethereum scaling solution Polygon (MATIC). According to him, since MATIC has lagged behind other altcoins in the recent market run-up, it may be time for it to catch up. He targets the $1.20 range, a 22% gain from MATIC’s current price of $0.98.
“MATIC has noticeably lagged but I think it should go to $1.20 in the short/mid term here. Still looks pretty strong and should be a decent one to trade now. Uncertain if this outperforms other narratives/ Layer-1 type of coins in 2024 though. Treat this more as a trade vs. investment.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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