- TheFlowHorse is optimistic about Fetch.ai (FET), projecting a 130% surge in the $1.5 trillion market.
- Bitcoin’s bearish risk looms if it fails to breach the $38,000 resistance; a “brief double top” concerns.
- Ordinals (ORDI) exhibits strong momentum, trading at $25.79 with an impressive 380% rise in two weeks.
A notable crypto analyst known by the name of TheFlowHorse, is signaling positive sentiment towards Fetch.ai (FET). With the total crypto market cap inching towards the formidable $1.5 trillion mark, The Flow Horse, who communicates insights to an audience of 185,800 on the social media platform, X, anticipates a potential surge of approximately 130% for FET, a blockchain-based platform integrating artificial intelligence (AI) and machine learning.
As of the latest update, FET is currently trading at $0.434, reflecting a modest increase of just over 100% in the past month. The analyst highlights the significance of breaching the $0.45 mark for FET, suggesting that this could propel the altcoin to $1. However, it is crucial to know that last week the token was at a crucial resistance level of $0.465, since then it has gone down.
Showing a 3.61% increase over the past week and is currently trading above the 50-day average. This indicates a potential uptrend. Furthermore, significant trade volume and positive technical indicators suggest sustained investor interest and a bullish market presence.
Shifting focus to Bitcoin (BTC), the analyst cautions about a potential bearish turn if the flagship cryptocurrency fails to convincingly surpass the $38,000 resistance level. The Flow Horse introduces the notion of a “brief double top,” a pattern signaling a possible downward reversal in the asset’s price.
Continuing the analysis, TheFlowHorse explores Ordinals (ORDI), a technology facilitating the creation of digital collectibles on the Bitcoin network. The analyst observes positive signs for ORDI, indicating a continuation of its bullish momentum. They noted,
This looks like it is going to put in another leg up. ORDI is remaining lifted and is a new pair breaking out of what is its first consolidation with no flashing warning signs of overheating.
As of the current report, ORDI is trading at $25.79, demonstrating a remarkable upswing of approximately 380% over the past two weeks. The unfolding dynamics in the cryptocurrency space, as interpreted by TheFlowHorse, present a nuanced perspective on market movements, offering valuable insights devoid of unnecessary embellishments.