Top Trader Updates Outlook on AI-Focused Altcoin That’s Exploded 307% Year-to-Date, Unveils Targets for Solana
A widely followed crypto strategist is updating his outlook on one red-hot artificial intelligence (AI) altcoin.
The pseudonymous crypto analyst Pentoshi tells his 707,100 Twitter followers that Fetch.AI (FET) is likely entering a consolidation phase after soaring 307% year-to-date.
“Update: mid-term resistance resisting. Guessing a week or so of some consolidation and chop for this on FET before anything more significant happens. Very strong move, so naturally profit taking occurring and coins changing hands.”
Source: Pentoshi/X
FET opened the year at $0.0922 and is trading for $0.375 at time of writing, after retracing from $0.3909.
Next up, the trader says Solana (SOL) will likely take out range highs before retracing to the $32 level to set up another move to the upside.
“SOL take out these equal highs at the top of the range and in next couple weeks likely a chance to refuel at the mid-range at $32.”
Source: Pentoshi/X
Solana is trading for $43.14 at time of writing, up more than 15% in the past 24 hours.
The trader also updates his outlook on Bitcoin (BTC) and predicts a new high of $37,000 this year before a dip down to a new support level at $33,000. He also believes Bitcoin will soar past $40,000 in early 2024.
“Short term think we see something like this for BTC.”
Source: Pentoshi/X
Bitcoin is trading for $35,304 at time of writing.
Lastly, the trader says that Ethereum (ETH) is setting the stage for a big move to the upside after crossing a key level at $1,821.
“ETH building into a breakout imo (in my opinion). Slowly grinding up, expecting momentum to pick up.”
Source: Pentoshi/X
Ethereum is trading for $1,845 at time of writing.
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